Electronic Wallet Payment Routing Across Non-Integrated Merchants
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Solution Overview
Problem
Not all merchants accept electronic wallets or all types of electronic wallets as a form of payment, limiting their usability in transactions.
Innovation Solution
A payment application that stores payment device data, including identifiers and credentials, facilitates transactions by displaying payment device identifiers, enabling users to select a payment device and wallet, and transfers payment data between the merchant system and the selected electronic wallet, even if the wallet is not directly integrated with the merchant system.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If electronic wallets are used for payment transactions, then payment convenience is improved, but merchant compatibility deteriorates because not all merchants accept electronic wallets
Solution Approach 1:
The patent introduces a payment application as an intermediary layer between the electronic wallet and the merchant system. This payment application acts as a mediator that can translate and facilitate communication between different payment systems, enabling electronic wallet transactions at merchants who do not have direct electronic wallet integration. The payment application stores payment device data and credentials, and can initiate transactions on behalf of the electronic wallet, thus resolving the compatibility issue while maintaining payment convenience.
2Reliability
If direct integration between electronic wallets and merchant systems is required, then transaction reliability is improved, but system complexity deteriorates due to the need for multiple integrations
Solution Approach 1:
The patent creates a universal payment application that can handle multiple payment devices and credentials from different electronic wallets through a single interface. This multi-functional system can store and manage various payment device data, including credentials from multiple electronic wallets, and can initiate transactions with any merchant system that accepts the payment application. This eliminates the need for separate direct integrations with each electronic wallet, reducing system complexity while maintaining transaction reliability through a unified approach.
Data Source
AI summary
A computer-implemented method includes: storing, by a payment application, payment device data including: first and second payment device identifiers and first and second wallet identifiers corresponding to first and second electronic wallets in which first and second payment device credentials of first and second payment devices are respectively stored; initiating a payment transaction with a merchant system; displaying the first and second payment device identifiers; receiving a user input from the user of the user device, the user input comprising a selection of the first payment device identifier; determining that the first electronic wallet includes the first payment device credentials of the first payment device; and facilitating a transfer of payment data between the merchant system and the first electronic wallet to initiate processing of the payment transaction.