A system for cardless transactions and a method thereof

Abstract

A system (100) for cardless transaction is disclosed. The system includes a processing subsystem (102), which includes a customization module (120), a receiving module (108), a verification (114), a transaction module (116), and a display module (118). The customization module enables the user to customize the plurality of authentication modes. The receiving module receives a user credential for gaining access from a user operating system (110) to an electronic device (112). The verification module (114) is configured to perform first level of verification based on one or more authentication modes and prompts the user to authenticate the user operating system, displays a list of bank accounts and select a bank account. The transaction module enables the user to make cardless transactions based on the first verification level and the second verification level. The display module displays a user account balance in response to a request from the user.

Description

[0001] A SYSTEM FOR CARDLESS TRANSACTIONS AND A METHOD THEREOF

[0002] EARLIEST PRIORITY DATE

[0003] This Application claims priority from a Complete patent application filed in India having Patent Application No. 202341044097, filed on June 30, 2023, and titled “A SYSTEM FOR CARDLESS TRANSACTIONS AND A METHOD THEREOF”

[0004] FIELD OF INVENTION

[0005] Embodiments of a present disclosure relate to the field of banking, and more particularly to a system for cardless transactions and a method thereof.

[0006] BACKGROUND

[0007] A variety of banking services are available for money transactions. The user can access back accounts of different banks. Now a days, banks provide multiple facilities to attract the customers. The facilities include internet banking, automated teller machines (ATM), and the like. Such facilities enable the user to make transactions anytime and from anywhere in the world. One of the most popular banking methods for cashless transactions is internet banking. The internet banking needs a third-party involvement. The traditional mode of transactions involves the physical presence of customers at the bank which may at times be inconvenient and time consuming. Currently, Automated Teller Machines (ATMs) are widely used for the transactions by using a card. However, such transactions through the card are also insecure and inconvenient. There are possibilities of the card being lost or damaged. There is also a chance of the card being stolen. This causes inconvenience as the customers must block the card and wait for the new card to arrive.

[0008] There is a need of an alternate way to provide better security and convenience to the customer. There is a need for a system which may avoid a third-party involvement during the transaction. Hence, there is a need for a system for cardless transaction and a method thereof which addresses the aforementioned issues.

[0009] OBJECTIVE OF THE INVENTION

[0010] An objective of the present invention is to provide an improved system for cardless transaction.

[0011] Another objective of the present invention is to provide a secure solution to the cardless transactions by providing a multi-level authentication.

[0012] Yet, an objective of the present invention is to facilitate a user with convenient transactions.

[0013] Further, another objective of the present invention is to allow the user to make cardless transactions with multiple banks.

[0014] Furthermore, an objective of the present invention is to provide smooth transactions without third-party involvement.

[0015] Furthermore, an objective of the present invention is to facilitate the user to choose the mode of authentication.

[0016] Furthermore, an objective of the present invention is to avoid requirement of other applications such as mobile Banking and the like.

[0017] BRIEF DESCRIPTION

[0018] In accordance with one embodiment of the disclosure a system for cardless transaction is provided. The system includes a processing subsystem, hosted on a server. The processing subsystem is configured to execute on a network to enable bidirectional communications among a plurality of modules. The plurality of modules includes a customization module, receiving module, a verification module, a transaction module, and a display module. The customization module is configured to enable a user to customize the plurality of authentication modes prompted to the user. The receiving module is operatively coupled with the customization module. The receiving module is configured to receive one or more user credentials from the user as an input. The verification module is operatively coupled with the receiving module. The verification module is configured to perform a first level of verification based on one or more authentication modes selected from the plurality of authentication modes prompted to the user. The verification module prompts the user to authenticate the user operating system. The verification module is also configured to prompt a list of bank accounts linked with the user credentials to enable the user to select a bank account for transaction in response to successful first level of verification, perform a second level of verification to verify a user identity, in response to the user selecting an authentication mode from the plurality of authentication modes. The customer selects the bank account he / she wants to transact with - to either check the account balance or withdraw money. If the customer opts to withdraw money, the customer is prompted to enter the amount. In either case, verification module is configured to initiate a second level authentication to verify the user’s identity. This is in response to the customer’s selecting an authentication mode from the plurality of authentication modes. The transaction module operatively coupled with the verification module. The transaction module enables the user to make cardless transactions based on the successful completion of both the levels of authentication. The display module is operatively coupled with the verification module. The display module is configured to display a user account balance in response to a request from the customer.

[0019] In accordance with another embodiment, a method for operating the system for cardless transaction is provided. The method includes customizing, by a customization module of the processing subsystem, a plurality of authentication modes by a user. The method also includes receiving, by a receiving module of a processing subsystem, a user credentials as an input for gaining access to an electronic device for transactions from a user operating. Further, the method includes performing, by a verification module of the processing subsystem, a first level of verification based on one or more authentication modes selected from the plurality of authentication modes by the prompted to the user. Furthermore, the method includes prompting, by the verification module of the processing subsystem, a list of bank accounts linked with the user credentials to enable the user to select a bank account for transaction in response to successful first level of verification. Furthermore, the method includes performing, by the verification module of the processing subsystem, a second level of verification to verify a user identity, in response to the user selecting an authentication mode from the plurality of authentication modes. Furthermore, the method includes enabling, by a transaction module of the processing subsystem, the user to make cardless transactions based on the first verification level and the second verification level. Furthermore, the method includes displaying, by a display module of the processing subsystem, a user account balance in response to a request from the user.

[0020] To further clarify the advantages and features of the present disclosure, a more particular description of the disclosure will follow by reference to specific embodiments thereof, which are illustrated in the appended figures. It is to be appreciated that these figures depict only typical embodiments of the disclosure and are therefore not to be considered limiting in scope. The disclosure will be described and explained with additional specificity and detail with the appended figures.

[0021] BRIEF DESCRIPTION OF THE DRAWINGS

[0022] The disclosure will be described and explained with additional specificity and detail with the accompanying figures in which:

[0023] FIG. 1 is a block diagram representing a system for cardless transactions in accordance with an embodiment of the present disclosure;

[0024] FIG. 2 is a flow chart representing an exemplary embodiment of the system for cardless transactions of FIG. 1 in accordance with an embodiment of the present disclosure; FIG. 3 is a block diagram of a computer or a server for the system for cardless transactions in accordance with an embodiment of the present disclosure; and

[0025] FIG. 4 is a flow chart representing steps involved in a method for operating the system for cardless transactions in accordance with an embodiment of the present disclosure.

[0026] Further, those skilled in the art will appreciate that elements in the figures are illustrated for simplicity and may not have necessarily been drawn to scale. Furthermore, in terms of the construction of the device, one or more components of the device may have been represented in the figures by conventional symbols, and the figures may show only those specific details that are pertinent to understanding the embodiments of the present disclosure so as not to obscure the figures with details that will be readily apparent to those skilled in the art having the benefit of the description herein.

[0027] DETAILED DESCRIPTION

[0028] For the purpose of promoting an understanding of the principles of the disclosure, reference will now be made to the embodiment illustrated in the figures and specific language will be used to describe them. It will nevertheless be understood that no limitation of the scope of the disclosure is thereby intended. Such alterations and further modifications in the illustrated system, and such further applications of the principles of the disclosure as would normally occur to those skilled in the art are to be construed as being within the scope of the present disclosure.

[0029] The terms "comprises", "comprising", or any other variations thereof, are intended to cover a non-exclusive inclusion, such that a process or method that comprises a list of steps does not include only those steps but may include other steps not expressly listed or inherent to such a process or method. Similarly, one or more devices or sub-systems or elements or structures or components preceded by "comprises... a" does not, without more constraints, preclude the existence of other devices, sub-systems, elements, structures, components, additional devices, additional sub-systems, additional elements, additional structures, or additional components. Appearances of the phrase "in an embodiment", "in another embodiment" and similar language throughout this specification may, but not necessarily do, all refer to the same embodiment.

[0030] Unless otherwise defined, all technical and scientific terms used herein have the same meaning as commonly understood by those skilled in the art to which this disclosure belongs. The system, methods, and examples provided herein are only illustrative and not intended to be limiting.

[0031] In the following specification and the claims, reference will be made to a number of terms, which shall be defined to have the following meanings. The singular forms “a”, “an”, and “the” include plural references unless the context clearly dictates otherwise.

[0032] Embodiments of the present disclosure relate to a system for cardless transaction is provided. The system includes a processing subsystem, hosted on a server. The processing subsystem is configured to execute on a network to enable bidirectional communications among a plurality of modules. The plurality of modules includes a customization module, receiving module, a verification module, transaction module and a display module. The customization module is configured to enable a user to customize the plurality of authentication modes prompted to the user. The receiving module is operatively coupled with the customization module. The receiving module is configured to receive one or more user credentials from the user as an input. The verification module operatively coupled with the receiving module. The verification module is configured to perform a first level of verification by based on one or more authentication modes selected from the plurality of authentication modes prompted to the user. The verification module prompts the user to authenticate the user operating system. The verification module is also configured to prompt a list of bank accounts linked with the user credentials to enable the user to select a bank account for transaction in response to successful first level of verification, perform a second level of verification to verify a user identity, in response to the user selecting an authentication mode from the plurality of authentication modes. The customer selects the bank account he / she wants to transact with - to either check the account balance or withdraw money. If the customer opts to withdraw money, the customer is prompted to enter the amount. In either case, verification module is configured to initiate a second level authentication to verify the user’s identity. This is in response to the customer’s selecting an authentication mode from the plurality of authentication modes. The transaction module operatively coupled with the verification module. The transaction module enables the user to make cardless transactions based on the successful completion of both the levels of authentication. The display module is operatively coupled with the verification module. The display module is configured to display a user account balance in response to a request from the customer.

[0033] FIG. 1 is a block diagram representing the system (100) for cardless transactions in accordance with an embodiment of the present disclosure. The system (100) includes a processing subsystem (102), hosted on a server (104), and configured to execute on a network (106) to control bidirectional communications among a plurality of modules. In one embodiment, the server (104) may include a cloud server. In another embodiment, the server (104) may include a local server. The processing subsystem (102) is configured to execute on a network (106) to control bidirectional communications among a plurality of modules. In one embodiment, the network (106) may include a wired network such as a local area network (LAN). In another embodiment, the network may include a wireless network such as WiFi, Bluetooth, Zigbee, near-field communication (NFC), infrared communication (RFID), or the like. The plurality of modules includes a customization module (120), a receiving module (108), a verification module (114), a transaction module (116), a display module (118).

[0034] The customization module (120) is operatively coupled with the verification module (114). The customization module (120) is configured to enable the user to customize the plurality of authentication modes. The receiving module (108) is operatively coupled with the customization module (120). The receiving module (108) is configured to receive a user credential as an input for gaining access from a user operating system (110) to an electronic device (112) for transactions. In one embodiment, the user operating system (110) may be a digital device such as a phone, a mobile, and the like. In one embodiment, the electronic device (112) for transactions is an Automated Teller Machine (ATM). In one embodiment, the user credential includes a number associated to a user device. In other words, the user credential refers to the user’s mobile phone number. In one embodiment, the number is registered with one or more bank accounts pertaining to the user. In another embodiment, the receiving module (108) receives the number associated with the user from the user and prompts a list of bank accounts registered with the number.

[0035] The verification module (114) is operatively coupled with the receiving module (108). The verification module (114) is configured to perform a first level of verification based on one or more authentication modes selected from the plurality of authentication modes prompted to the user, wherein the verification module (114) prompts the user to authenticate the user operating system (110). The verification module (114) is also configured to prompt a list of bank accounts linked with the user credentials to enable the user to select a bank account for transaction in response to successful first level of verification. Further, the verification module (114) is configured to perform a second level of verification to verify a user identity, in response to the user selecting an authentication mode from the plurality of authentication modes. In one embodiment, the verification module (114) is configured to generate a multi-level authentication method. The multilevel authentication includes one or more authentication modes set by the user to access the user bank account.

[0036] The transaction module (116) is operatively coupled with the verification module (114). The transaction module (116) enables the user to make cardless transactions based on the first verification level and the second verification level. In one embodiment, the transaction module (116) is configured to receive an amount for transaction from the user account upon verification of the user thereby completing the transaction.

[0037] The display module (118) operatively coupled with the verification module (114). The display module (118) is configured to display a user account balance in response to a request from the user.

[0038] FIG. 2 is a flow chart representing an exemplary embodiment of the system (100) for cardless transactions of FIG. 1 in accordance with an embodiment of the present disclosure. Considering a non-limiting example of a customer opting for the cardless transaction. This transaction involves the following steps:

[0039] The customer selects the cardless withdrawal option at an ATM.

[0040] The customer enters a phone number linked with one or more of his / her bank accounts.

[0041] A plurality of authentication modes for login is prompted. The plurality of authentication modes may include a onetime password (OTP), Captcha Tests, Fingerprint, Facial Recognition, Speaker Recognition, and the like. The chosen mode of authentication is sent to the registered phone number for verification.

[0042] In one embodiment, a token-based authentication may be sent to the customer 's phone number.

[0043] The input is then verified, and the list of bank accounts (124) linked with the mobile number is displayed.

[0044] Customer is able to choose to view the account balance, to withdraw money or to make other transactions from for a selected bank account.

[0045] In case the mobile number registered with two or more accounts from same bank or different bank, the customer may have an option to choose an account (126) from which the customer is able to withdraw cash or view the account balance.

[0046] The customer is allowed to input an amount (128) for transaction. The transaction authentication (130) process starts by sending an authentication generated from the plurality of authentication modes to the customer’s mobile number.

[0047] The customer inputs the authentication mode received and the cash is dispensed to the customer, or the account balance is displayed based on the customer requirement. The transaction is completed by the ATM (132).

[0048] In one embodiment, the system (100) sends a security alert to the customer when an attempt of gaining access to the system (100) is made.

[0049] FIG. 3 is a block diagram of a computer or a server for the system for cardless transaction in accordance with an embodiment of the present disclosure. The server (300) includes a processor(s) (302), and memory (306) operatively coupled to the bus (304).

[0050] The processor(s) (302), as used herein, means any type of computational circuit, such as, but not limited to, a microprocessor, a microcontroller, a complex instruction set computing microprocessor, a reduced instruction set computing microprocessor, a very long instruction word microprocessor, an explicitly parallel instruction computing microprocessor, a digital signal processor, or any other type of processing circuit, or a combination thereof.

[0051] The bus (304) as used herein refers to be internal memory channels or computer network that is used to connect computer components and transfer data between them. The bus (304) includes a serial bus or a parallel bus, wherein the serial bus transmits data in a bit-serial format and the parallel bus transmits data across multiple wires. The bus (04) as used herein, may include but not limited to, a system bus, an internal bus, an external bus, an expansion bus, a frontside bus, a backside bus, and the like.

[0052] The memory (306) includes a plurality of subsystems and a plurality of modules stored in the form of an executable program which instructs the processor (302) to perform the method steps illustrated in FIG. 1. The memory (306) is substantially similar to the system (100) of FIG. l. The memory (306) has submodules: a customization module (120), a receiving module (108), a verification module (114), a transaction module (116), and a display module (118).

[0053] The customization module (120) is operatively coupled with the verification module (114). The customization module (120) is configured to enable the user to customize the plurality of authentication modes.

[0054] The receiving module (108) operatively coupled with the customization of module. The receiving module (108) is configured to receive a user credential as an input for gaining access from a user operating system (110) to an electronic device (112) for transactions.

[0055] The verification module (114) is operatively coupled with the receiving module (108). The verification module (114) is configured to perform a first level of verification based on one or more authentication modes selected from the plurality of authentication modes prompted to the user, wherein the verification module (114) prompts the user to authenticate the user operating system (110). The verification module (114) is also configured to prompt a list of bank accounts linked with the user credentials to enable the user to select a bank account for transaction in response to successful first level of verification. Further, the verification module (114) is also configured to perform a second level of verification to verify a user identity, in response to the user selecting an authentication mode from the plurality of authentication modes. The transaction module (116) is operatively coupled with the verification module (114). The transaction module (116) enables the user to make cardless transactions based on the first verification level and the second verification level.

[0056] The display module (118) operatively coupled with the verification module (114). The display module (118) is configured to display a user account balance in response to a request from the user.

[0057] Computer memory elements may include any suitable memory device(s) for storing data and executable program, such as read-only memory, random access memory, erasable programmable read-only memory, electrically erasable programmable read-only memory, hard drive, removable media drive for handling memory cards and the like. Embodiments of the present subject matter may be implemented in conjunction with program modules, including functions, procedures, data structures, and application programs, for performing tasks, or defining abstract data types or low-level hardware contexts. An executable program stored on any of the above-mentioned storage media may be executable by the processor(s) (304).

[0058] FIG. 4 is a flow chart representing steps involved in a method (400) for operating the system for cardless transactions in accordance with an embodiment of the present disclosure. The method includes customizing, by a customization module of the processing subsystem, a plurality of authentication modes by a user in step (402). In one embodiment, the system enables the user to change the authentication method based on the user requirement.

[0059] The method (400) also includes receiving, by a receiving module of a processing subsystem, a user credentials as an input for gaining access to an electronic device for transactions from a user operating in step (404). The method also includes receiving a user number associated with a user device as the user credentials. The user number is registered with one or more bank accounts pertaining to the user. The method also includes receiving, the number associated with the user entered by the user and displays the list of bank accounts registered with the number. Further, the method (400) includes performing, by a verification module of the processing subsystem, a first level of verification based on one or more authentication modes selected from the plurality of authentication modes by the prompted to the user, in step (406). The method also includes providing the plurality of authentication modes such as one time password, captcha tests, fingerprint, facial recognition, speaker recognition and token-based authentication. The method also includes generating a multi-level authentication method, wherein the multilevel authentication includes one or more authentication modes set by the user to access the user bank account.

[0060] Furthermore, the method includes prompting, by the verification module of the processing subsystem, a list of bank accounts linked with the user credentials to enable the user to select a bank account for transaction in response to successful first level of verification in step (408).

[0061] Furthermore, the method (400) includes performing, by the verification module of the processing subsystem, a second level of verification to verify a user identity, in response to the user selecting an authentication mode from the plurality of authentication in step (410).

[0062] Furthermore, the method (400) includes enabling, by a transaction module of the processing subsystem, the user to make cardless transactions based on the first verification level and the second verification level in step (412). The method also includes receiving an amount for transaction from the user account upon verification of the user thereby completing the transaction.

[0063] Furthermore, the method (400) includes displaying, by a display module of the processing subsystem, a user account balance in response to a request from the user in step (414). The method includes enabling the user to register multiple phone numbers with one or more accounts of multiple banks.

[0064] Various embodiments of the present disclosure provide a system for enabling a user to make cardless transactions. The system disclosed in the present disclosure facilitates the customer to choose the bank account for transaction from of his / her associated bank accounts with the phone number. The system enables the user to choose the mode of authentication is a customer's choice in other words the mode of authentication is not set by the bank but set by the user as per his / her convenience. The system in the present disclosure facilitates displaying the account balance of the account selected by the user, hence the customer is able to the account balance before cash withdrawal.

[0065] Further, the system disclosed in the present disclosure avoids involvement of a third-party application hence facilitates a smooth and fast mode transaction. The system enables the user to withdraw from any of the bank account linked with the user’s phone number. Further, the system disclosed in the present disclosure, facilitates the customer to customize the authentication modes as per their convenience.

[0066] While specific language has been used to describe the disclosure, any limitations arising on account of the same are not intended. As would be apparent to a person skilled in the art, various working modifications may be made to the method in order to implement the inventive concept as taught herein.

[0067] The figures and the foregoing description give examples of embodiments. Those skilled in the art will appreciate that one or more of the described elements may well be combined into a single functional element. Alternatively, certain elements may be split into multiple functional elements. Elements from one embodiment may be added to another embodiment. For example, the order of processes described herein may be changed and is not limited to the manner described herein. Moreover, the actions of any flow diagram need not be implemented in the order shown; nor do all of the acts need to be necessarily performed. Also, those acts that are not dependent on other acts may be performed in parallel with the other acts. The scope of embodiments is by no means limited by these specific examples.

Claims

CLAIM:

1. A system (100) for cardless transaction comprises: a processing subsystem (102), hosted on a server (104), wherein the processing subsystem (102) is configured to execute on a network (106) to enable bidirectional communications among a plurality of modules comprising: a customization module (120) configured to enable a user to customize a plurality of authentication modes prompted to the user; a receiving module (108) operatively coupled with the customization module (120) and configured to receive a user credential as an input for gaining access from the user operating system (110) to an electronic device (112) for transactions; a verification module (114) operatively coupled with the receiving module, wherein the verification module (114) is configured to: perform a first level of verification based on one or more authentication modes selected from the plurality of authentication modes prompted to the user, wherein the verification module (114) prompts the user to authenticate the user operating system (110); prompt a list of bank accounts linked with the user credentials to enable the user to select a bank account for transaction in response to successful first level of verification; andperform a second level of verification to verify a user identity, in response to the user selecting an authentication mode from the plurality of authentication modes; a transaction module (116) operatively coupled with the verification module (114), wherein the transaction module (116) enables the user to make cardless transactions based on the first verification level and the second verification level; and a display module (118) operatively coupled with the verification module (114), wherein the display module (118) is configured to display a user account balance in response to a request from the user.

2. The system (100) as claimed in claim 1, wherein the plurality of authentication modes is as one time password, captcha tests, fingerprint, facial recognition, speaker recognition and token-based authentication.

3. The system (100) as claimed in claim 1, wherein the verification module (114) is configured to generate a multi-level authentication method, wherein the multilevel authentication comprises one or more authentication modes set by the user to access the user bank account.

4. The system (100) as claimed in claim 1, wherein the transaction module (116) is configured to receive an amount for transaction from the user account upon verification of the user thereby completing the transaction.

5. The system (100) as claimed in claim 1, wherein the user credential includes a number associated to a user device.

6. The system (100) as claimed in claim 5, wherein the user number is registered with one or more bank accounts pertaining to the user.

7. The system (100) as claimed in claim 5, wherein the system enables the user to register multiple phone numbers with one or more accounts of multiple banks.

8. The system (100) as claimed in claim 5, wherein the receiving module receives the number associated with the user entered by the user and displays the list of bank accounts registered with the number.

9. The system (100) as claimed in claim 1, comprises an alert module configured to alert the user at the time of attempt for gaining access to the system.

10. A method (400) for operating the system for cardless transaction comprises: customizing, by a customization module of the processing subsystem, a plurality of authentication modes by a user; (402) receiving, by a receiving module of a processing subsystem, a user credentials as an input for gaining access to an electronic device for transactions from a user operating; (404) performing, by a verification module of the processing subsystem, a first level of verification based on one or more authentication modes selected from the plurality of authentication modes by the prompted to the user; (406) prompting, by the verification module of the processing subsystem, a list of bank accounts linked with the user credentials to enable the user to select a bank account for transaction in response to successful first level of verification; (408) performing, by the verification module of the processing subsystem, a second level of verification to verify a user identity, inresponse to the user selecting an authentication mode from the plurality of authentication modes; (410) enabling, by a transaction module of the processing subsystem, the user to make cardless transactions based on the first verification level and the second verification level; (412) and displaying, by a display module of the processing subsystem, display a user account balance in response to a request from the user. (414)

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