VoIP Payment System via P2P Intermediary
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Solution Overview
Problem
Conventional phone-based payment systems for e-commerce transactions are prone to delays and security risks due to additional processing steps and exposure of customers' credit card information, which can lead to errors and security breaches.
Innovation Solution
A networked e-commerce system integrating voice-over-Internet-Protocol (VoIP) technology and peer-to-peer (P2P) networks enables secure and efficient payment processing by allowing voice communication and payment requests through P2P nodes, utilizing APIs for secure communication between consumer, merchant, and payment sites, thereby reducing the need for manual entry of credit card information and minimizing exposure of sensitive data.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If conventional phone-based payment systems are used, then payment processing is easy and fast for consumers, but additional processing steps create delays and potential errors
Solution Approach 1:
The system performs preliminary actions by automatically retrieving and storing customer credit card information from the merchant site before the phone call occurs. When the customer calls, the payment processor already has the information ready, eliminating the need for manual entry during the call and reducing processing time while maintaining ease of operation.
2Device complexity
If conventional phone-based payment systems are used, then payment processing is simplified, but merchant exposure to customer credit card information creates security problems
Solution Approach 1:
The patent introduces a payment processor as an intermediary between the merchant site and the customer. The payment processor automatically retrieves credit card information directly from the merchant site and handles payment processing without the merchant ever seeing or storing the customer's credit card information. This intermediary approach maintains simple system operations while eliminating security risks associated with merchant exposure to sensitive data.
3Productivity
If manual entry of credit card information is required, then payment processing can be completed, but the potential for errors increases
Solution Approach 1:
The system implements self-service by automatically retrieving credit card information from the merchant site database and populating the payment form without human intervention. The payment processor autonomously completes data entry, eliminating manual typing errors while maintaining fast payment processing. The system serves itself by automatically fetching and processing payment information.
Data Source
AI summary
A computer-implemented method and system is disclosed in which a network-based environment includes a system to connect systems over a voice communication connection, create a record associated with the voice communication connection, initiate a request over the voice communication connection, and provide a confirmation of the request upon completing the request over the communication connection.