Universal Shopping Cart Secure Payment Tokenization
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Solution Overview
Problem
Existing e-commerce platforms are insecure and fail to allow users to purchase goods and services according to their preferences, often leading to higher prices due to merchant collusion and lack of competition.
Innovation Solution
A universal shopping cart system that securely manages purchases by communicating with multiple e-commerce platforms, generating payment tokens for each merchant, and automatically selecting the best price option based on user preferences, ensuring secure and competitive pricing.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If a single e-commerce platform is used, then the system is simple to operate, but users cannot compare prices from multiple merchants and may pay higher prices due to merchant collusion
Solution Approach 1:
The patent creates a universal shopping cart system that functions across multiple e-commerce platforms simultaneously. The system aggregates product listings from various merchants on different platforms, allowing users to compare prices and select the best option while maintaining a single interface for shopping. This multi-functional approach resolves the contradiction by enabling price comparison across platforms without requiring users to navigate multiple separate e-commerce sites.
2Adaptability or versatility
If merchants are allowed to operate independently on their own e-commerce platforms, then each merchant can maintain their own pricing strategy, but the e-commerce platform and merchants may collude to keep prices high
Solution Approach 1:
The universal shopping cart system acts as an intermediary between users and multiple merchants across different e-commerce platforms. By aggregating product information and pricing from various merchants in a single interface, the system enables transparent price comparison while maintaining merchant independence. Users can see and compare prices from multiple merchants simultaneously, preventing collusion-induced price inflation without requiring merchants to abandon their individual platforms.
3Adaptability or versatility
If merchants frequently update their e-commerce platforms with new features, then the platform becomes more functional, but security flaws increase due to untested changes
Solution Approach 1:
The system performs preliminary actions by pre-aggregating and caching product information, pricing data, and merchant details from multiple e-commerce platforms before users need them. This allows the universal shopping cart to maintain updated functionality across platforms without requiring real-time connections to each merchant's system, reducing security risks associated with frequent platform updates while keeping the system functional and current.
Data Source
AI summary
The disclosed embodiments provide systems, methods, and techniques for managing transaction cards. User registration processes, order processes, and failure detection processes for a secure universal shopping cart are provided. Systems and methods may acquire identifiers. Systems and methods may also identify items associated with the identifiers. In addition, systems and methods may acquire a list of merchants that offer each item. Systems and methods may further determine, for each identifier, merchants based on user preferences. Even further, systems and methods may generate a payment token for each item. Systems and methods may then transmit the payment token for each item to its respective merchant.