Transaction Regulation System for Digital Payment Control
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Solution Overview
Problem
Current digital payment systems lack the capability to effectively regulate transactions based on user-defined criteria, such as merchant category, location, and transaction amount, leading to inadequate control over authorized and rejected transactions.
Innovation Solution
A transaction regulation system that receives user-defined action parameters, associates them with user profiles, and compares these parameters with transaction identification information to automatically authorize or reject transactions, utilizing a computer-based system with a processor, memory, and network interface to manage user profiles and transaction data.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If a transaction regulation system is implemented to provide precise control over transactions, then user control and transaction management capability are improved, but system complexity increases
Solution Approach 1:
The patent introduces an intermediary regulation system between the user and the transaction processing system. This intermediary layer receives transaction requests, compares them against user-defined action parameters stored in the database, and automatically authorizes or rejects transactions based on predefined criteria. This mediator handles the complexity of regulation logic internally while presenting a simple interface to users, thus improving ease of operation without exposing system complexity.
Solution Approach 2:
The system performs preliminary actions by requiring users to pre-define their transaction preferences and action parameters before actual transactions occur. Users set up their regulation criteria in advance (e.g., spending limits, merchant categories, geographic restrictions), and these pre-configured parameters are stored in the database. When transactions occur, the system simply compares them against these pre-established rules, eliminating the need for complex real-time decision-making interfaces and simplifying user interaction.
2Productivity
If automatic transaction authorization and rejection based on predefined criteria is implemented, then transaction processing efficiency is improved, but the initial setup complexity increases
Solution Approach 1:
The system enables users to perform self-service by allowing them to independently define and configure their own action parameters and transaction preferences through a user interface. Users can set up their regulation criteria, spending limits, and preferred merchants without requiring complex administrative setup or system configuration. The system automatically stores these user-defined parameters in the database and uses them for automatic transaction processing, thus improving efficiency while keeping setup simple and user-controlled.
Solution Approach 2:
The system uses copying by storing user-defined action parameters as templates in the database. Once a user configures their preferences (e.g., approval for merchants in specific categories, rejection for international transactions), these settings are copied and applied automatically to all subsequent transactions matching those criteria. This eliminates the need to manually evaluate each transaction individually and allows the system to efficiently process multiple transactions based on copied preference templates.
Data Source
AI summary
A method of authorizing transactions is provided that includes receiving from a user an action parameter, associating the action parameter with a user profile associated with the user, storing the action parameter, receiving an authorization request from a merchant for a transaction with the user, comparing the action parameter with transaction identification information, and sending an authorization response in response to comparing the action parameter with transaction identification information.