Wallet Enrollment Using Payment Transactions at Point Of Sale
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Solution Overview
Problem
Existing digital wallet enrollment processes are time-consuming, error-prone, and inconvenient, deterring users from adopting alternative payment methods and creating barriers to broader merchant and financial institution acceptance.
Innovation Solution
A method for creating digital wallets using information obtained from payment transactions, where payment details are transmitted to a wallet enrollment system during a purchase, allowing merchants to prompt users for enrollment at the point of sale, and additional information is provided later via notification, reducing the need for manual data entry and enhancing security through additional authentication factors.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If users manually navigate to enrollment websites and enter payment card information, then the digital wallet can store payment credentials, but the enrollment process becomes time-consuming and error-prone
Solution Approach 1:
The system performs preliminary actions by automatically capturing payment card information during the purchase transaction itself. The point-of-sale system reads the card data and transmits it to the wallet enrollment system before the user completes the purchase, eliminating the need for separate manual entry later.
Solution Approach 2:
The patent introduces an intermediary wallet enrollment system that acts as a bridge between the point-of-sale system and the digital wallet. This intermediary automatically receives transaction data from the merchant system and uses it to provision the digital wallet, eliminating direct user interaction with enrollment websites.
2Reliability
If users are required to provide extensive account information during registration, then the digital wallet can be securely provisioned, but the registration process becomes more complex and discouraging
Solution Approach 1:
The system extracts only the essential information needed for wallet provisioning from the purchase transaction data. Instead of requiring users to manually enter all account details, the system automatically captures and transmits the necessary payment card information and user identifiers from the transaction record.
Solution Approach 2:
The digital wallet system performs self-service by automatically provisioning the wallet using transaction data without requiring extensive user input. The system autonomously matches the transaction data with user accounts and completes the enrollment process without human intervention beyond the initial purchase.
3Productivity
If merchants integrate wallet enrollment capabilities at point of sale, then digital wallet adoption can be accelerated, but the transaction system becomes more complex
Solution Approach 1:
The wallet enrollment system is designed to work with existing point-of-sale systems through standard communication protocols. The same transaction data infrastructure used for processing purchases is leveraged for wallet enrollment, allowing the system to perform multiple functions (payment processing and wallet provisioning) without duplicating hardware or software components.
Data Source
AI summary
Embodiments of the present invention relate to systems, methods, processes, computer program code, and means for creating digital wallets for users. In some embodiments, digital wallets are created, at least in part, on information obtained from payment transactions conducted by users.