METHOD FOR PROVISIONING MERCHANT-SPECIFIC PAYMENT APPARATUS

Organization Name

Inventor(s)

Abdelkader M’Hamed Benkreira of Washington DC (US)

METHOD FOR PROVISIONING MERCHANT-SPECIFIC PAYMENT APPARATUS - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240232901 titled 'METHOD FOR PROVISIONING MERCHANT-SPECIFIC PAYMENT APPARATUS

Simplified Explanation

The patent application describes a method and system for issuing a merchant-specific payment apparatus, like a temporary payment card, through a computing device such as an ATM. Users can select a merchant, and based on the merchant's accepted payment types, a suitable temporary payment card is issued to the user.

Users can specify a merchant.
Known payment acceptance types at the selected merchant are returned.
The system issues a temporary payment card based on the merchant's accepted payment types.

Key Features and Innovation

Method for provisioning a merchant-specific payment apparatus.
Utilization of computing devices like ATMs for issuing temporary payment cards.
Customization of temporary payment cards based on a selected merchant's accepted payment types.

Potential Applications

The technology can be applied in various industries such as retail, hospitality, and e-commerce for providing personalized payment solutions to customers.

Problems Solved

Simplifies the process of issuing temporary payment cards.
Enhances user experience by offering merchant-specific payment options.
Increases security by providing temporary payment cards for specific merchants.

Benefits

Convenient and personalized payment solutions.
Improved security for transactions.
Enhanced user experience and satisfaction.

Commercial Applications

The technology can be utilized by banks, financial institutions, and merchants to offer customized payment solutions to their customers, improving customer loyalty and satisfaction.

Prior Art

Readers can explore prior art related to merchant-specific payment solutions, temporary payment cards, and personalized payment options in the financial technology sector.

Frequently Updated Research

Stay updated on the latest advancements in merchant-specific payment solutions, temporary payment cards, and personalized payment options in the financial technology industry.

Questions about Merchant-Specific Payment Apparatus

How does the technology enhance user experience?

The technology enhances user experience by providing personalized payment solutions based on selected merchants, offering convenience and security.

What are the potential commercial applications of this technology?

The technology can be applied by banks, financial institutions, and merchants to offer customized payment solutions, improving customer satisfaction and loyalty.

Original Abstract Submitted

various embodiments are directed to a method and system for provisioning a merchant-specific payment apparatus, such as a temporary payment card, via a computing device, such as an automated teller machine (atm). a user, such as a customer, may specify a merchant. a record of known payment acceptance types at that merchant may be returned, which may be used to determine what type of temporary payment card gets issued to the user.