Universal Merchant Platform for Payment Brand Registration

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Solution Overview

Problem

Merchants face challenges in efficiently registering and enabling multiple alternative payment options due to unique integration specifications and underwriting requirements, making the process time-consuming and complex.

Innovation Solution

A system and method that utilize a universal merchant platform to simplify the registration and boarding of alternative payment brands by centralizing the merchant application process, allowing merchants to select and apply to multiple payment brands through a single interface, with processors handling the necessary information and underwriting criteria.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Reliability

If merchants complete multiple individual applications and registration processes for different alternative payment options, then each payment option can be individually configured and underwritten, but the process becomes time-consuming and complex

Engineering Contradiction:

Improveindividual underwriting and configuration of payment optionsVSAvoidtime required for registration and boarding

Core Design Contradiction:

ReliabilityVSLoss of time

Solution Approach 1:

The patent combines multiple individual application processes into a single unified application interface. The universal merchant platform aggregates data from multiple alternative payment brands and consolidates them into one application submission, allowing merchants to apply to multiple payment options simultaneously rather than separately for each brand.

Inventive Principle:

Principle #5Merging (Combining)

Solution Approach 2:

The universal merchant platform serves as a multi-functional intermediary that handles applications for multiple different alternative payment brands through a single interface. The platform performs various functions including data collection, validation, underwriting coordination, and branding-specific configuration all through one unified system.

Inventive Principle:

Principle #6Universality (Multi-functionality)

2Adaptability or versatility

If merchants manually complete separate registration processes for each alternative payment brand, then each brand's specific requirements can be met, but the complexity of the process increases

Engineering Contradiction:

Improvesupport for multiple payment brands with different requirementsVSAvoidcomplexity of registration and boarding process

Core Design Contradiction:

Adaptability or versatilityVSDevice complexity

Solution Approach 1:

The universal merchant platform acts as an intermediary between merchants and multiple alternative payment brands. It translates and adapts merchant information into brand-specific formats, coordinates with different underwriting criteria, and manages the complexity of brand-specific requirements without requiring merchants to manually navigate each brand's unique process.

Inventive Principle:

Principle #24Intermediary (Mediator)

3Reliability

If alternative payment options require individual merchant underwriting and application, then fraud risk can be assessed for each option, but the time to enable payments is increased

Engineering Contradiction:

Improvefraud risk assessment for payment optionsVSAvoidspeed of enabling alternative payment options

Core Design Contradiction:

ReliabilityVSProductivity

Solution Approach 1:

The universal merchant platform performs preliminary underwriting assessment and risk evaluation during the single unified application process. By conducting fraud risk assessment in advance for all selected payment brands during one application submission, the system eliminates the need for separate underwriting processes later, enabling faster activation while maintaining security.

Inventive Principle:

Principle #10Preliminary action

Data Source

PatentUS10127549B2Universal merchant application, registration and boarding platform

Publication Date: 2018.11.13 CARDINALCOMMERCE CORP

AI summary

A system for processing e-commerce transactions. The system includes one or more processors programmed to receive a selection of one or more alternative payment brands from a merchant. Each of said alternative payment brands including a different merchant application process. Further, the processors are programmed to receive merchant information from the merchant necessary to apply to the selected alternative payment brands and apply to each of the selected alternative payment brands using the merchant information in accordance with the merchant application process for the selected alternative payment brand.