WO2024150191A1

WO2024150191A1 - A digital bill generation system for processing payments and method thereof

Info

Publication number: WO2024150191A1
Application number: PCT/IB2024/050335
Authority: WO
Inventors: Jayakumar Kandasamy; Yamuna Jayakumar
Original assignee: Squadl Technologies Private Limited
Priority date: 2023-01-13
Filing date: 2024-01-12
Publication date: 2024-07-18

Abstract

The present invention discloses a digital bill generation system for processing payments, wherein the system (100) comprises the Intelligent Point of Sale (iPOS) device (101) enabling the scanning of the Quick Response (QR) code for generating the instant actual digital bill to be paid by the customer. Further, the system (100) employs advanced analytics to discern customer purchasing patterns, enabling retailers to tailor exclusive offers to individual customers. Real-time feedback mechanisms are integrated to the system (100), allowing customers to share their experiences directly with retailers, fostering immediate improvements. Moreover, the system (100) facilitates swift, secure digital payments, automatically archiving payment receipts alongside their respective digital bills.

Description

TITLE OF THE INVENTION

A digital bill generation system for processing payments and method thereof

Priority Claim:

[0001] This application claims priority from the provisional application numbered 202241071814 filed with Indian Patent Office, Chennai on 13^th December 2022 and postdated to 13^th January 2023 entitled “A digital bill generation system for processing payments and method thereof", the entirety of which is expressly incorporated herein by reference.

PREAMBLE TO THE DESCRIPTION

[0002] The following specification particularly describes the invention and the manner in which it is to be performed:

DESCRIPTION OF THE INVENTION

Technical field of the invention

[0003] The present invention relates to a digital bill generation system for processing payments. The present invention particularly relates to a system for generating digital bills and processing payments using Quick Response (QR) code.

Background of the invention

[0004] Even in this digital era, paper is widely used for generating and printing bills. The system of paper billing leads to using of unconnected modes for collection of payments such as debit or credit card, Unified Payments Interface (UPI), cash and so on, making the process of keeping track of accounts a cumbersome process as the accounting is done manually and a separate Customer Relationship Management (CRM) software is used for tracking the customers details with manual entry. [0005] The traditional way of payment system lacks generation of bills digitally and lacks instant rating and feedback system for every bill based on a customer’s shopping experience at the retail store. Also, the conventional method lacks in providing the consumer with the tool to invest or save funds by identifying the customer’s behavioral analysis. Further, the customers are not provided with the option of redeeming instant offers and promotions at the stores while processing the payment. Also, the retailers use unrelated marketing tools such as Short Message Service (SMS), E-mail, digital marketing, etc., wherein, the existing system with incomplete billing cycle is inefficient to attract more customers.

[0006] The Patent Application No. WO2013068768A1 titled “Payment system and method” discloses a smartphone with a processor can execute program instructions to cause currency transfers transactions to be made to accounts associated with other smartphones and to interact with an application server or merchant terminal. The smartphone can scan a Quick Response (QR) code and decode the QR code to recover encoded data. The smartphone can use the encoded data, alone or with other data, such as data from a user profile, to obtain promotional vouchers from the merchant server. The smart phone can initiate redemption of the promotional vouchers. The smartphone can display a validation form to prompt capturing images of items an application server can use to validate payment instruments and accounts. The validation form may prompt a user to capture images of a driver's license, a payment instrument, an invoice, or a passport. Smartphone communication with the application server can include device identifiers such as MSISDN, IMEI, or IMSI.

[0007] The Patent Application No. CN104615939A titled “Bill generating method, device and system and bill verification method, device and system” discloses the invention discloses a bill generating method, device and system and a bill verification method, device, and system, and belongs to the technical field of electronic information. The bill verification method includes the steps that a two- dimensional code bill to be verified is acquired; the two-dimensional code bill is analyzed, and original bill information and a digital signature for the original bill information are acquired, wherein the digital signature is used for verifying authenticity of the two-dimensional code bill; the two-dimensional code bill is verified according to the original bill information and the digital signature; if verification passes, the two-dimensional code bill is determined as a true bill. Due to the fact that the digital signature cannot be counterfeited by other people, by the adoption of the technical scheme, the problems that bills are easily counterfeited by users in the prior art is solved; Due to the fact that the two-dimensional code bill simultaneously comprises the original bill information and the digital signature, when the authenticity of the two- dimensional code bill is verified, the bill can be conveniently and accurately verified through verification of the digital signature, and the effect of decreasing the difficulty coefficient in the bill verification process is achieved.

[0008] Hence, there exists a need for a system facilitating secure digital bill generation and streamlined payment processing through the Intelligent Point of Sale (iPOS) framework.

Brief description of the drawings:

[0009] The foregoing and other features of embodiments will become more apparent from the following detailed description of embodiments when read in conjunction with the accompanying drawings. In the drawings, like reference numerals refer to like elements.

[0010] FIG 1 illustrates a block diagram of a system for digital bill generation for processing payments, in accordance with an embodiment of the present invention.

[0011] FIG 2 illustrates a block diagram representation of the Intelligent Point of sale (iPOS) device, in accordance with an embodiment of the present invention.

[0012] FIG 3 illustrates a block diagram representation of a customer centric application module, in accordance with an embodiment of the present invention. [0013] FIG 4 illustrates a flowchart of a method for a retail transaction in a digital bill generation system, in accordance with an embodiment of the present invention.

[0014] Detailed description of the invention:

[0015] Reference will now be made in detail to the description of the present subject matter, one or more examples of which are shown in the figures. Each example is provided to explain the subject matter and not a limitation. Various changes and modifications obvious to one skilled in the art to which the invention pertains are deemed to be within the spirit, scope, and contemplation of the invention.

[0016] The present invention discloses a digital bill generation system for processing payments, wherein the system facilitates generation of digital bills and processing payment by scanning the Quick Response (QR) code. By leveraging this technology, users experience a seamless and efficient method for managing transactions, marking a significant leap forward in the realm of digital payment solutions.

[0017] FIG 1 illustrates a block diagram of a system for digital bill generation for processing payments, in accordance with an embodiment of the present invention. The system (100) comprises an Intelligent Point of Sale (iPOS) device (101) to ensure secure digital bill generation. The iPOS device (101) facilitates the creation of dynamic QR codes and also incorporates an innovative feature of auto-fetching one or more payment values, enhancing the efficiency and security of the payment process.

[0018] Further, the system (100) comprises a Customer Relationship Management (CRM) application module (102) tailored for one or more retailers. The CRM application (102) provides retailers with real-time updates on payment statuses, expedites financial reconciliation through a one-click process, and employs AI- powered analytics to strategize targeted customer retention initiatives. Furthermore, the system (100) comprises a consumer-centric mobile application module (103) that includes a dynamic QR code scanner (104) and a digital bill vault module (105). The consumer-centric mobile application module (103) operates as a comprehensive online payment gateway, collecting, tracking, and seamlessly managing various payment methods including cash, physical card payments, and online transactions such as Unified Payments Interface (UPI), debit and credit cards, wallets, Buy Now, Pay Later (BNPL), Internet banking, and gift cards. This functionality ensures streamlined transactions, accommodating both contact and contactless payment methods. The consumer- centric mobile application module (103) further provides an intuitive interface for real-time access to diverse offers and promotions. Additionally, the mobile application includes features for collecting ratings and feedback for each bill, enhancing user engagement, and incorporates an automated expense manager for improved financial tracking.

[0019] In an embodiment of the present invention, the Intelligent Point of Sale (iPOS) device (101), plays a pivotal role within the system architecture, aligning with the host device. The host device, maybe a computer, laptop, tablet, or similar electronic device, forms the operational environment for the iPOS device (101). The integration process involves the installation of a dedicated driver within the host device. The driver facilitates seamless communication between the host device and the iPOS device (101). The iPOS device (101) is essentially a multifunctional hardware entity that connects to the host device through the established communication facilitated by the driver. Once connected, the iPOS device (101) becomes an integral part of the host device's operational infrastructure, leveraging its capabilities to generate paperless digital bills. The iPOS device (101) features a dynamic QR code display, crucial for customer interactions and transactions.

[0020] In an embodiment of the present invention, a distinctive capability for instant digital bill generation and delivery is introduced. Upon connection to a billing computer, the iPOS device (101) functions as a printer, generating a digital bill presented in the form of the dynamic QR code. This QR code can be seamlessly scanned using one or more proprietary applications or popular messaging platforms such as WhatsApp. Moreover, the digital bill is conveniently shareable through WhatsApp or SMS, addressing scenarios where customers may not have their phones readily available during the shopping process. [0021] FIG 2 illustrates a block diagram representation of the Intelligent Point of sale (iPOS) device, in accordance with an embodiment of the present invention. The Intelligent Point of sale (iPOS) device (101) comprises a microprocessor module (106) for implementing a machine learning algorithm for generating the digital bills in the form of the dynamic Quick Response (QR) code and automatic retrieval of the bill value to be paid. Further, the Intelligent Point of sale (iPOS) device (101) comprises a Modulator-demodulator (Modem) module (107) for establishing secure network connection between the Intelligent Point of sale (iPOS) device (101) and the server. The Intelligent Point of sale (iPOS) device (101) further comprises a Battery Management System (BMS) module (109) for managing and optimizing the power supply to the Intelligent Point of sale (iPOS) device (101).

[0022] Further, the Intelligent Point of Sale (iPOS) device (101) operates as a versatile hardware component, functioning as both a Universal Serial Bus (USB) and network-based paperless printer within a billing counter. Through its seamless connection to the host device, the iPOS device (101) generates digital bills in lieu of traditional paper bills. In a preferred embodiment of the present invention, the iPOS device (101) adopts a Plug and Play functionality, ensuring effortless integration with multiple diverse Enterprise Resource Planning (ERP) systems, commonly employed for daily operational tasks across entities. More particularly, the iPOS device (101) serves as a multi-functional tool, acting as a payment terminal to facilitate digital payments and concurrently functioning as a feedback channel for customers to provide their valuable input. The iPOS device (101) eliminates the need for separate payment service providers, streamlining the process for retailers. Utilizing proprietary Machine Language algorithms, the iPOS device (101) ensures the secure and convenient generation of digital bills with autofetched payment values. Additionally, physical credit/debit card payments using Near Field Communication (NFC) or Europay Mastercard Visa (EMV) technology are supported, offering flexibility to consumers. Upon payment completion, the iPOS device (101) automatically stores the digital bill and payment receipt in our mobile application, triggering instant voice notifications to the merchant, enhancing transaction efficiency. [0023] FIG 3 illustrates a block diagram representation of a customer centric application module, in accordance with an embodiment of the present invention. The consumer-centric mobile application module (103) is designed for bill payment using the Quick Response (QR) code, wherein the consumer-centric mobile application module (103) comprises a dynamic QR code scanner (104) for scanning the Quick Response (QR) code on the Intelligent Point of sale (iPOS) device (101). The customer centric application module (102) further comprises a processing module (108) to decode the Quick Response (QR) code for retrieving the value of the bill automatically and generating the digital bill for the customer.

[0024] In an embodiment of the present invention, the output bill value from the processing module (108) is accessible to the customer through one or more electronic devices. Further, the system (100) enables the customer to process instant digital payment using various payment gateways such as the Europay, MasterCard and Visa (EMV), Near Field Communication (NFC) etc., for enabling the payment of bills using physical credit or debit cards in the Intelligent Point of sale (iPOS) device (101). According to one embodiment of the invention, the customer may avail real-time offers and coupons in the Customer Relationship Management (CRM) application module (102), before processing the payment. Further, the customer may use desired options to process the payment such as cash, credit or debit card, Unified Payments Interface (UPI), internet banking, credit or debit Equated Monthly Instalment (EMI) options, electronic wallets, pay later options, and so on.

[0025] Further, the consumer-centric mobile application module (103) includes a sophisticated rating feature, strategically designed to empower customers to provide post-transaction ratings for retail stores. In one embodiment, this rating feature operates in real-time, enabling customers to offer immediate feedback on each digital bill and share their nuanced shopping experiences at the respective retail store. The embedded feedback feature within the consumer-centric mobile application module (103) serves as a seamless conduit for the reception and processing of valuable customer feedback. This integration reflects the system's (100) commitment to fostering continuous improvement and customer-centric enhancements based on real-time evaluations from end-users. The functionality aligns with the overarching system (100) providing ratings and feedback for each digital bill based on their unique shopping encounters at the respective retail store. Additionally, the integrated loyalty and rewards process further augments customer engagement, offering seamless access to brand, store, and proprietary loyalty programs with a single click.

[0026] Furthermore, the consumer-centric mobile application module (103) provides consumers with convenient access to the latest store offers and promotions, consolidating digital bills and payments for an accurate and automated expense tracking. The incorporation of artificial intelligence (Al) enhances user experience by furnishing advanced analytics, thereby facilitating effective money management through personalized suggestions and investment tools.

[0027] The consumer-centric mobile application module (103) is equipped with a sophisticated bill vault module (105) designed to automatically archive payment receipts upon the successful completion of payments for the corresponding digital bills. Additionally, the consumer-centric mobile application module (103) incorporates an advanced expense manager, offering customers comprehensive tools for efficient management of their routine expenditures. The expense manager facilitates the organization of regular expenses and also provides customers with a diverse set of tools for prudent savings and investments. In an embodiment of the present invention, the expense manager ensures that customers, upon successful payment transactions, seamlessly store payment receipts in the bill vault module (105) and leverage the expense manager's capabilities for effective financial planning and utilization of funds.

[0028] In an embodiment of the present invention, a Customer Relationship Management (CRM) application module (102) establishes a vital link between the Intelligent Point of Sale (iPOS) device (101) and the consumer-centric mobile application module (103). The CRM application module (102) is responsible for gathering the unique identity of the customer, which is generated by the consumercentric mobile application module (103) upon the scanning of the QR code using the dynamic QR code scanner (104). The unique identity encompasses various personal details of the customer, including but not limited to their name, age group, and the frequency of visits to the retailer's store. Subsequently, the data collected by the CRM application module (102) is automatically stored in a database, ensuring the retention of crucial customer information for enhanced customer relationship management.

[0029] In an embodiment of the present invention, the Customer Relationship Management (CRM) application module (102) engages in a comprehensive analysis of customer behavior. The analysis involves forecasting both demand and purchasing patterns through the utilization of machine learning techniques. Additionally, the CRM application module (102) plays a pivotal role in customer segmentation, categorizing individuals into distinct groups based on demographic, psychographic, and geographic parameters. The segmentation enhances the precision of targeting strategies for each customer group and facilitates effective customer acquisition.

[0030] Furthermore, the CRM application module (102) actively supports smart inventory management, leveraging data and processes to meet increasing product demands with minimal inventory. By automatically synchronizing inventories across various channels, the smart inventory management mitigates the risk of losses while maximizing profits.

[0031] In an embodiment of the present invention, the analysis conducted by the CRM application module (102) enables the automatic centralization of orders originating from various sales channels. The centralization optimizes the order processing, routing, and real-time tracking of order fulfillment. Moreover, the Customer Relationship Management (CRM) application module (102) empowers merchants to execute advanced marketing campaigns, encompassing the provision of customized offers, promotional vouchers, and other targeted initiatives to customers based on intricately analyzed data.

[0032] Additionally, the Customer Relationship Management (CRM) application module (102) provides real-time payment updates to retailers, accompanied by a voice note following the successful completion of transactions. Moreover, the module (102) facilitates one-click financial reconciliation for retailers, incorporating auto-fetched bill payment values. The streamlined financial reconciliation process ensures instantaneous reconciliation of bill and payment details. The CRM application module (102) also empowers retailers to monitor the various transaction modes utilized by customers, such as cash, Unified Payment Interface (UPI), internet banking, credit or debit Equated Monthly Instalment (EMI) options, electronic wallets, pay later options, and more. Furthermore, the module (102) enables retailers to access and review customer feedback and ratings provided through the rating feature of the consumer-centric mobile application module (103).

[0033] FIG 4 illustrates a flowchart of a method for a retail transaction in a digital bill generation system, in accordance with an embodiment of the present invention. The method (200) encapsulates a sequence of steps within the digital bill generation system, initiated by the deployment of the Intelligent Point of Sale (iPOS) device. The method (200) ensures the secure generation of digital bills, distinguished by the creation of dynamic QR codes integrating auto-fetched payment values in step 201. This inventive approach contributes to heightened security and operational convenience in the domain of bill processing. Further, the method (200) introduces the initiation of both contact and contactless digital payments through a dedicated mobile application, providing support for a versatile array of payment options with pre-fetched bill payment values in step 202. This step aligns with contemporary consumer preferences, ensuring a streamlined and efficient payment experience. Upon successful execution of payment transactions, the system (100) seamlessly archives payment receipts alongside corresponding bills within the customer centric mobile application in step 203. This integrated functionality aims to afford users facile access to their transaction history, fostering transparency and meticulous record-keeping.

[0034] Further, the Customer Relationship Management (CRM) application module marks a noteworthy enhancement, furnishing real-time payment status updates and facilitating one-click financial reconciliation in step 204. This element not only simplifies financial processes for both retailers and consumers but also ensures the expeditious and accurate communication of payment-related information.

[0035] Furthermore, the method (200) strategically harnesses the potential of Artificial Intelligence (Al)-driven analytics embedded within the CRM application module in step 205. This strategic incorporation empowers retailers with targeted customer retention programs, including sophisticated customer segmentation and personalized marketing strategies. The integration of Al-driven analytics introduces an elevated layer of intelligence to the system, enabling data-driven decisionmaking for heightened customer engagement and satisfaction.

[0036] The method (200) allows users to apply instant discount vouchers and coupons from diverse retailers during payment transactions through the mobile application. This real-time discounting feature enhances the overall user experience, providing immediate benefits to consumers during their transactions.

[0037] The present invention provides a system (100) and method (200) for digital bill generation for payment processing, wherein the advantages of the system (100) includes instant generation of digital bills and Quick Response (QR) code from the Intelligent Point of Sale (iPOS) for making the payments by the customers. Further, the generation of digital bill makes the entire system (100) environmentally friendly. Also, the system (100) facilitates the customer for automatic and accurate tracking of their expenses as the system (100) provides both the digital bills and payments receipts to be accessible on the same platform. Further, the system (100) notifies the customer with offers, loyalty rewards, coupons, vouchers etc., to automatically avail the benefits of brands and retail stores by choosing the valid offer while making the payment and giving instant discounts. Further, the system (100) by analyzing the customer’ s behavior and purchasing pattern suggests various tools to save or invest the money of their digital vault thereby leading to growth in consumer’s money in the long run. Furthermore, the system (100) may receive all types of payments instead of using multiple payment service providers and receiving feedback. [0038] The disclosed system (100) for digital bill generation and payment processing present a myriad of advantages within the realm of innovative financial transactions. A core advantage lies in the system's (100) capability to seamlessly generate digital bills and Quick Response (QR) codes through the Intelligent Point of Sale (iPOS) device (101), offering customers a swift and efficient payment mechanism. This inventive approach contributes to environmental sustainability by rendering the entire system (100) paperless.

[0039] Moreover, the system (100) caters to the modern consumer's need for streamlined financial management. By consolidating both digital bills and payment receipts within a singular platform, users benefit from automatic and precise expense tracking. The unified platform not only enhances accessibility but also establishes a seamless linkage between expenditure records and payment history, ensuring comprehensive financial visibility for the customer.

[0040] A distinctive feature of the system (100) is its proactive engagement with customers. Instant notifications are provided, encompassing a spectrum of benefits such as offers, loyalty rewards, coupons, and vouchers. Moreover, the users are empowered to effortlessly capitalize on brand and retail store benefits by selecting pertinent offers during the payment process, leading to immediate discounts and enhanced value.

[0041] Furthermore, the system (100) exhibits a sophisticated understanding of customer behavior and purchasing patterns. Leveraging this insight, the system (100) recommends diverse tools for users to save or invest their funds housed within the digital vault. The system (100) optimizes payment processing by consolidating all payment types into a unified platform. This eliminates the need for multiple payment service providers, streamlining the transactional landscape. Similarly, the system (100) integrates a feedback mechanism seamlessly, negating the requirement for a separate feedback system.

[0042] The system (100) disclosed herein introduces an array of features that enhance the overall functionality and efficiency of digital bill generation and payment processing. In accordance with one embodiment of the present invention, the system (100) is adept at dispatching Short Message Service (SMS) containing digital bills, offering a convenient and accessible record for future use. Moreover, the system (100) capitalizes on idle time by intelligently displaying marketing advertisements, thereby bolstering customer awareness. In the realm of secure and convenient transactions, the system (100) excels by automating the retrieval of digital bills for payment.

[0043] A pivotal element of the system (100) is its robust Customer Retention Management (CRM) programs for empowering retailers to forge stronger connections with their clientele by delving into customer behavior and preferences. The system's (100) unified platform, equipped with an array of marketing tools, serves as a strategic hub for retailers. Real-time feedback and ratings provided by customers are seamlessly integrated, enabling retailers to gauge and enhance their performance. This comprehensive approach not only completes the billing cycle but also acts as a catalyst for increased sales and reduced expenses, thereby fostering a symbiotic relationship between retailers and customers.

Reference numbers:

Claims

Claims We claim:

1. A system for generating a digital bill, the system (100) comprises: a. a multi-functional Intelligent Point of Sale (iPOS) device (101) for securing digital bill generation, featuring creation of dynamic Quick Response (QR) code with one or more auto-fetched payment values; b. a Customer Relationship Management (CRM) application module (102) configured for one or more retailers, offering real-time payment status updates, one-click financial reconciliation, and Artificial Intelligence (Al) -powered analytics for targeted customer retention strategies; and c. a consumer-centric mobile application module (103) featuring a dynamic QR code scanner (104), a digital bill vault module (105), and an online payment gateway supporting diverse payment options for contactless transactions.

2. The system (100) as claimed in claim 1, wherein the CRM application module (102) employs advanced analytics techniques, incorporating data- driven algorithms, for optimizing smart inventory management, analyzing demand patterns, executing predictive demand forecasting, and orchestrating automated predictive order systems.

3. The system (100) as claimed in claim 1, wherein the iPOS device (101) displays a plurality of digital advertisements during idle running time and notifies the retailers instantly with a voice note upon successful payment.

4. The system (100) as claimed in claim 1, wherein the consumer-centric mobile application module (103) enables the customers to track, manage the payments and apply instant discount voucher and coupon during the payment transactions.

5. The system (100) as claimed in claim 1, wherein the consumer-centric mobile application module (103) facilitates real-time rating, feedback on digital bills and expense tracking on digital bills, fostering immediate user engagement.

6. The system (100) as claimed in claim 1, wherein the consumer-centric mobile application module (103) comprises an interface for real-time offers and promotions.

7. A method for a retail transaction in a digital bill generation system, the method (200) comprising the steps of: a. employing an Intelligent Point of Sale (iPOS) device for secure digital bill generation, featuring dynamic QR code creation with auto-fetched payment value (201); b. initiating contactless digital payments through a consumer-centric mobile application module, supporting diverse payment options with pre-fetched bill payment values (202); c. automatically storing payment receipts with respective bills within the consumer-centric mobile application module (203); d. providing real-time payment status updates and enabling one-click financial reconciliation through a Customer Relationship Management (CRM) application module (204); and e. leveraging Artificial Intelligence (Al)-driven analytics within the CRM application module for targeted customer retention programs, encompassing customer segmentation and personalized marketing strategies (205).

8. The method (200) as claimed in claim 7, wherein the method (200) further comprises the step of applying instant discount vouchers and coupons from various retailers during payment transactions through the mobile application.