TMN Applies for Patent on Lost Sales Opportunities and Real-Time Purchase Analysis in the Event of an Electronic Payment System Failure

Transaction Media Networks, Inc. (TMN) has filed a patent application for sales information management technology that can grasp the payment status at stores in real time in the event of a payment system failure. By utilizing the real-time management technology applied for patent, retailers can quickly implement follow-up measures such as issuing coupons to customers who were unable to shop in the event of a payment system failure, thereby contributing to alleviating the decline in customer satisfaction.

The number of payment system failures has been increasing with the increased use of electronic payments and the diversification of payment methods. Shoppers may be at risk of not being able to make purchases if they do not have an alternative means of payment such as cash, and retailers may be concerned about the impact of lost sales opportunities and reduced customer satisfaction in the event of a system failure.

TMN has been strengthening measures to prevent payment system failures for some time, while concurrently developed this technology as a new means to minimize the impact on retailers in the event of a failure. Now it is possible for the retail business headquarters to grasp the status of transactions at the store in real-time in the event of a system failure and to quickly take appropriate measures. Furthermore, purchase status, including cash transactions as well as electronic payments are now available to visualization by utilizing receipt information, making it possible to further accurately grasp the loss of sales opportunities and conduct quick and appropriate responses.

TMN will continue to promote the use of data through collaboration with retailers and contribute to the realization of a smooth payment experience and efficient sales management.

Patent Overview

■Content

Based on transaction information in the event of a payment system failure, the applied technology is intended to grasp the possibility of sales opportunities losses, and to support measures and customer response according to the situation. By utilizing receipt information and transaction history, it is possible to broadly grasp purchasing trends, regardless of whether it is cash or electronic, and it is possible to better visualize the impact of payment system failures.

• Understanding and estimating whether there is a loss of sales opportunities
• Notify managers and support decisions on follow-up measures as necessary
• Purchase status, including cash payment, is also analyzed to grasp the entire purchase
• Supports impact analysis by payment methods and stores, with analysis available for use to improve operations

■Expected Effect

⒈Benefits to Retailers

• Possible to grasp the occurrence of lost sales opportunities and respond quickly to it
• Secure the information to make decisions for customer response, in the event of a failure
• Can be used for follow-up measures such as providing coupons

⒉Benefits for Payment Service Providers

• Quantitatively grasp the degree of failure impact of each payment method
• Used for improvements to build a stable payment environment