Unified Payment Platform for Location-Based Fee Aggregation
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Solution Overview
Problem
Existing location-based services systems lack a convenient and common platform for aggregating payments for user-fee chargeable facilities, restrict payment channels, and do not offer opportunities for discounts, loyalty points, or payment sharing between users, limiting revenue generation for facility providers and user convenience.
Innovation Solution
A system and method that uses tracking devices to determine location and calculate fees for user-fee chargeable facilities, providing multiple payment options via electronic communication devices, allowing users to select payment methods, and facilitating payment processing through various channels, including loyalty points and discounts, while enabling payment sharing and real-time transaction reconciliation.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If a common platform for aggregating payments is implemented, then payment convenience and revenue aggregation improve, but system complexity increases
Solution Approach 1:
The patent merges multiple payment collection functions into a single common platform that handles payments from various facility providers. The system combines location tracking, fee calculation, multiple payment channel integration, and transaction management into one unified system, eliminating the need for separate payment systems for each facility provider.
Solution Approach 2:
The payment platform is designed with universal functionality to handle diverse payment types (toll fees, parking fees, bridge fees) through multiple payment channels (cash, card, electronic). The system can serve different facility providers and users with a single multi-functional platform, reducing overall system complexity while improving payment convenience.
2Adaptability or versatility
If multiple payment channels are provided, then user payment options improve, but transaction processing complexity increases
Solution Approach 1:
The patent introduces an intermediary payment platform that mediates between users and facility providers. This intermediary system handles the complexity of multiple payment channels by providing a unified interface for users while managing diverse backend processing requirements. The platform acts as a mediator that simplifies user interaction while accommodating various payment methods including cash, cards, and electronic payments.
3Adaptability or versatility
If loyalty points and discounts are integrated, then user engagement improves, but system functionality complexity increases
Solution Approach 1:
The patent merges loyalty program functionality with the payment platform by integrating point accumulation, redemption, and discount application features directly into the existing payment processing system. Users earn points through facility usage and can redeem them for discounts on future payments, all handled within the same platform without requiring separate loyalty management systems.
4Adaptability or versatility
If payment sharing between users is enabled, then collaborative usage improves, but transaction complexity increases
Solution Approach 1:
The patent implements payment sharing by segmenting a single payment obligation into multiple user portions. When one user pays for a facility service, the system automatically divides the fee among multiple users associated with that service (e.g., passengers in a vehicle), allowing each user to be charged their share separately. This segmentation approach enables collaborative payment without requiring complex peer-to-peer transaction mechanisms.
Data Source
AI summary
A system and method for providing location based services for user-fee chargeable facilities is provided. The invention provides for detecting location, and offering and charging for usage of user-fee chargeable facilities. The invention further provides a convenient and common platform for offering user-fee chargeable services from different organizations. Furthermore, the invention provides a system and method that facilitates payment of fees through multiple payment channels, provides opportunities for using accumulated loyalty points in lieu of payments, availing personalized discounts and/or offers in lieu of financial payments and provides options for sharing the payment of fees between multiple users. The invention also provides a system and method that helps facility owners and operators and third party partners to reduce costs and increase revenue leveraging location-based services.