Transaction Processing System with Account Holder Defined Limitations

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Solution Overview

Problem

Internet commerce faces challenges with high transaction costs due to multiple intermediaries, buyer confidence and security issues, and inconvenience in repetitive transaction information entry.

Innovation Solution

A transaction processing system that establishes accounts with defined privileges, authenticates users, and streamlines transactions by reducing intermediaries, incorporating automated settlement and fraud protection, and using a credit token for secure and efficient processing.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Reliability

If multiple intermediaries are used in transaction processing, then authentication and authorization can be performed, but transaction costs increase

Engineering Contradiction:

Improveauthentication and authorizationVSAvoidtransaction costs

Core Design Contradiction:

ReliabilityVSLoss of energy

Solution Approach 1:

The patent extracts and eliminates unnecessary intermediaries from the transaction processing chain. By implementing a streamlined processing system that performs authentication and authorization directly without requiring multiple intermediary entities, the system maintains security functions while reducing transaction costs associated with intermediary fees.

Inventive Principle:

Principle #2Taking out (Extraction)

Solution Approach 2:

The patent merges multiple transaction processing functions into a single integrated system. By combining authentication, authorization, and transaction processing in one unified platform rather than distributing them across multiple separate intermediaries, the system reduces the number of transactions and associated costs while maintaining comprehensive security.

Inventive Principle:

Principle #5Merging (Combining)

2Productivity

If standard credit and debit cards are used for e-commerce, then transactions can be processed, but buyer confidence and security are compromised

Engineering Contradiction:

Improvetransaction processing capabilityVSAvoidbuyer confidence and security

Core Design Contradiction:

ProductivityVSReliability

Solution Approach 1:

The patent implements preliminary authentication and authorization actions before transactions are completed. By verifying buyer identity and authorization status in advance through enhanced security protocols, the system builds buyer confidence and prevents fraudulent transactions before they occur, rather than relying on post-transaction dispute resolution.

Inventive Principle:

Principle #10Preliminary action

Solution Approach 2:

The patent introduces a secure transaction processing system as an intermediary that enhances security between buyers and sellers. This intermediary platform provides encrypted communication, verified authentication, and protected transaction processing, thereby increasing buyer confidence while maintaining transaction processing capability.

Inventive Principle:

Principle #24Intermediary (Mediator)

3Ease of operation

If account holder information is made accessible to sellers, then transactions can be completed, but fraud risk increases

Engineering Contradiction:

Improvetransaction completionVSAvoidfraud risk

Core Design Contradiction:

Ease of operationVSObject-affected harmful factors

Solution Approach 1:

The patent applies local quality control by providing sellers with only the specific account information needed to complete transactions, rather than full access to account holder data. This selective information disclosure maintains transaction capability while minimizing fraud risk by limiting the scope of accessible information to what is strictly necessary.

Inventive Principle:

Principle #3Local quality

Solution Approach 2:

The patent implements feedback mechanisms that continuously monitor transaction patterns and account holder behavior. By analyzing transaction data in real-time and providing feedback on potential fraudulent activity, the system can prevent fraud while maintaining ease of operation for legitimate transactions through automated verification processes.

Inventive Principle:

Principle #23Feedback

4Productivity

If transaction information is manually entered repeatedly, then transactions can be processed, but convenience and time efficiency decrease

Engineering Contradiction:

Improvetransaction processingVSAvoidtime for information entry

Core Design Contradiction:

ProductivityVSLoss of time

Solution Approach 1:

The patent stores account holder information and transaction preferences in advance during account setup, eliminating the need for manual re-entry during subsequent transactions. By pre-configuring account details and authorization parameters, the system enables rapid transaction processing without time-consuming information entry while maintaining processing productivity.

Inventive Principle:

Principle #10Preliminary action

Data Source

PatentUS8170954B2Secure and efficient payment processing system with account holder defined transaction limitations

Publication Date: 2012.05.01 CARDINALCOMMERCE CORP

AI summary

A method for carrying out commercial transactions includes establishing a transaction processing system on an electronic communications network, and establishing an account within the transaction processing system for a corresponding account holder. One or more descriptions of acceptable future commercial transactions related to the account are obtained from the account holder. Commercial transactions carried out via the transaction processing system are administered, and it is verified that administered commercial transactions related to the account meet one or more of the descriptions obtained.