Digital Wallet Data Collector Platform for Demographic Insights
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Current systems fail to effectively capture and analyze device communication data and biometric data from digital wallet transactions to determine user demographics, limiting the generation of demographic breakdowns and merchant recommendations based on user demographics.
Innovation Solution
A data collector platform that receives registration data and digital wallet data, including transaction, device communication, and biometric data, to link and determine user demographics for merchants, enabling the generation of demographic insights and personalized merchant recommendations.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If device communication data and biometric data are collected from digital wallet transactions, then user demographics can be determined, but system complexity increases
Solution Approach 1:
The system segments data collection into distinct modules: device communication data collection from transaction systems, biometric data collection from authentication systems, and demographic determination through data comparison. This modular approach reduces overall system complexity while enabling comprehensive data gathering.
Solution Approach 2:
The patent introduces an intermediary computing device that acts as a mediator between transaction systems and analysis systems. This intermediary collects and processes data from multiple sources, simplifying the architecture by centralizing data handling functions rather than requiring direct integration between all systems.
2Loss of information
If device communication data and biometric data are collected and analyzed, then demographic insights can be generated, but data processing time increases
Solution Approach 1:
The system performs preliminary actions by collecting and storing device communication data and biometric data in advance during transaction processing. This pre-collected data is then readily available for demographic analysis without requiring real-time processing, significantly reducing analysis time when insights are needed.
Solution Approach 2:
The patent creates copies of collected data and stores them in databases for later analysis. Instead of processing raw transaction data in real-time, the system uses pre-stored data copies, enabling fast demographic determination without repeated heavy processing of original transaction records.
3Loss of information
If registration data including demographic data is stored, then user demographics can be determined, but data security risks increase
Solution Approach 1:
The patent extracts and separates sensitive demographic data from transaction processing systems, storing it in dedicated secure databases. This extraction isolates sensitive information from general transaction systems, reducing the attack surface and limiting potential security risks to specific secured storage areas rather than the entire transaction ecosystem.
Data Source
AI summary
A computer-based method for collecting digital wallet data from a digital wallet transaction initiated by a user is provided. The method includes receiving registration data for a user in response to the user registering into a digital wallet application, wherein the registration data includes demographic data and device registration data including a device identifier used for identifying the user device when in communication with another computing device. The method also includes storing the registration data within at least one memory device and receiving digital wallet data as part of a digital wallet transaction initiated by the user using the digital wallet application on the user device, wherein the digital wallet data includes transaction data, device communication data, and biometric data. The method further includes comparing the digital wallet data to the registration data and linking the digital wallet data within the at least one memory device to the registration data.