ATM Credit Push Transactions via Optical Code Scanning
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Solution Overview
Problem
Existing ATMs rely on debit pull transactions, which lack real-time settlement and are insecure due to reliance on PIN-based authentication and limited security features, making them susceptible to data breaches and operational inefficiencies.
Innovation Solution
Implementing a credit push transaction process using optical codes displayed at ATMs, which are read by mobile devices to initiate fund disbursements, leveraging more secure authentication methods like biometrics and reducing the need for NFC hardware, enabling real-time settlement through a payment rail.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If debit pull transactions are used at ATMs, then traditional authentication can be performed, but security is weakened and real-time settlement is not achieved
Solution Approach 1:
The patent inverts the traditional debit pull model by implementing a credit push model. Instead of the ATM initiating a debit request and waiting for authorization, the system generates a credit push transaction that immediately credits the user's account and then settles with the ATM's bank. This inversion enables real-time settlement while enhancing security through mobile device authentication.
Solution Approach 2:
The patent introduces a payment rail as an intermediary between the ATM and the banks. The payment rail facilitates real-time settlement by acting as a mediator that processes credit push transactions, enabling immediate fund transfer and settlement without the delays of traditional debit pull networks.
2Ease of operation
If PIN-based authentication is used at ATMs, then simple verification is achieved, but security is compromised due to susceptibility to data breaches
Solution Approach 1:
The patent replaces the mechanical PIN-based authentication system with mobile device-based authentication methods. The optical code displayed at the ATM is scanned by the user's mobile device, which then performs authentication using more secure methods such as biometrics or device credentials, eliminating the need for users to manually enter PINs at the ATM.
3Device complexity
If optical codes are used for authentication, then NFC hardware requirements are reduced, but additional authentication steps are introduced
Solution Approach 1:
The patent implements a self-service approach where the user's mobile device automatically performs the authentication process. After scanning the optical code, the mobile device independently completes verification through its own authentication mechanisms (biometrics, device credentials) without requiring additional manual steps at the ATM, making the process as easy as taking a photo.
Data Source
AI summary
A payment processing method uses a credit push for completing a transaction at a terminal device. The process can include scanning an optical code at terminal device using a mobile device to determine creditor bank information. A debtor bank server receives the creditor bank information and provides a credit push request to a payment rail. The payment rail communicates a credit payment transaction request to a creditor bank sever. The creditor bank server identifies the terminal device and instructs completion of the transaction at the terminal device in an amount corresponding to the credit push request. The transaction is initiated at the terminal device. An authentication procedure for facilitating the transaction by communicating the creditor bank information is performed by the mobile device and not by the terminal device.