Electronic Wallet Device with Automatic Card Selection
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Solution Overview
Problem
Many existing chip cards are not compatible with newer contactless payment terminals that use technologies like NFC or BLE, requiring physical insertion and manual selection, which is inconvenient and may lead to missed rewards or incurring unnecessary fees.
Innovation Solution
An electronic wallet device with multiple card slots and readers, a hub with a processor and communication interface, and a switching component that connects card readers to facilitate the selection and communication of the best transaction card based on transaction information, allowing for contactless transactions and optimizing reward earnings while avoiding fees.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If multiple transaction cards are used for different transactions, then transaction flexibility and reward optimization are improved, but manual card selection and physical insertion are required which increases operation complexity and time consumption
Solution Approach 1:
The system automatically selects the optimal transaction card based on pre-configured user preferences, transaction amounts, and merchant categories. The electronic wallet device autonomously determines which card to use without requiring manual user intervention, thereby resolving the contradiction between transaction flexibility and ease of operation.
Solution Approach 2:
Users pre-configure their card selection preferences, spending thresholds, and merchant category preferences in advance. The system stores these preferences and automatically applies them during transactions, eliminating the need for manual card selection at the point of sale while maintaining transaction flexibility.
2Speed
If contactless payment terminals are used, then transaction speed and convenience are improved, but existing chip cards are not compatible which reduces adaptability
Solution Approach 1:
The electronic wallet device incorporates multiple card readers that support various communication protocols including contactless NFC, contactless BLE, and traditional contact-based IC chip reading. This multi-functional capability allows the system to accommodate both newer contactless terminals and existing chip cards, resolving the contradiction between transaction speed and card compatibility.
Solution Approach 2:
The electronic wallet device acts as an intermediary between the transaction card and the payment terminal. It reads data from compatible cards using appropriate protocols and communicates with the terminal accordingly, enabling legacy cards to work with modern contactless terminals through the wallet device's mediation.
3Productivity
If automatic card selection is implemented, then transaction efficiency and reward optimization are improved, but device complexity increases due to multiple card readers and switching components
Solution Approach 1:
The card reader system is divided into multiple independent reading modules, each specialized for a specific protocol (NFC, BLE, IC chip). This segmentation allows each module to be optimized for its specific function while the central controller manages them through a switching mechanism, reducing overall system complexity compared to a single universal reader.
Solution Approach 2:
The switching component dynamically connects the appropriate card reader module to the processing unit based on the detected card type and transaction requirements. This dynamic reconfiguration allows the system to maintain high transaction efficiency while managing complexity through adaptive resource allocation rather than permanent fixed connections.
Data Source
AI summary
An example electronic wallet device may include a plurality of card slots to receive transaction cards; a plurality of card readers, each card reader, of the plurality of card readers, being associated with a card slot of the plurality of card slots; a hub comprising: a processor, and a communication interface; and a switching component that connects the plurality of card readers to the hub.