ATM QR Code Pairing for Faster Cardless Transactions
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Solution Overview
Problem
Existing banking systems require physical interaction with ATMs or human tellers for transactions like cash withdrawals, which is time-consuming and inefficient.
Innovation Solution
A mobile banking app facilitates cardless ATM transactions using QR codes to authenticate and instruct ATMs, allowing users to complete transactions without physical cards or direct interaction.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If physical interaction with ATMs or human tellers is required for transactions, then transaction security can be maintained through traditional authentication methods, but transaction time increases and operational efficiency decreases
Solution Approach 1:
The patent replaces the mechanical system of physical card insertion and manual authentication with an optical/digital system using QR codes. The mobile device displays a QR code that the ATM scans optically, eliminating the need for physical card handling and reducing transaction time while maintaining security through digital authentication protocols.
Solution Approach 2:
The patent creates a digital copy of the authentication mechanism by generating a QR code that contains encoded transaction information. This QR code serves as a digital replica of the traditional card-based authentication system, allowing the ATM to verify transaction details without physical card insertion, thereby speeding up the process.
2Device complexity
If physical cards and direct interaction are used for ATM transactions, then system reliability is maintained through established protocols, but device complexity and resource requirements increase
Solution Approach 1:
The mobile device automatically generates and displays the QR code without requiring manual input from the user. The system performs self-service by handling authentication token generation, expiration management, and transaction initiation automatically, reducing the complexity of user interaction while maintaining system reliability through programmed security protocols.
3Reliability
If traditional ATM authentication methods are used, then security protocols are maintained, but the number of ATMs and tellers required increases
Solution Approach 1:
The QR code authentication system serves multiple functions: it authenticates the user, encrypts transaction data, verifies account details, and initiates the transaction all in one interaction. This multi-functionality allows a single ATM to handle diverse transaction types efficiently, reducing the need for multiple specialized machines or tellers while maintaining comprehensive security protocols.
Data Source
AI summary
Disclosed herein are system, method, and computer program product embodiments for allowing completion of cardless transactions at a kiosk using an encoded identifier for that kiosk. A method can include receiving, at a kiosk, an image, the image including an identifier uniquely identifying the kiosk and additional information encoded in the image; and displaying, at the kiosk, the image for scanning by a mobile device, the identifier being configured for: pairing the kiosk to a queued transaction associated with a user of the mobile device in the event the user is authenticated with an institution affiliated with the kiosk, and the additional information being configured for: directing, via the mobile device, the user to additional services to complete a transaction using the kiosk in the event the user of the mobile device is not authenticated with the institution.