Cardless Payment Authentication Using Biometric Cryptograms
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Solution Overview
Problem
Existing transaction methods require individuals to present physical payment objects, leading to frustration and potential identity theft issues, as they often rely on external cards or digitized equivalents, which burden users and compromise security.
Innovation Solution
Implementing a cardless transaction system using biometric samples on a distributed ledger network, where a point-of-sale computing device receives and authenticates biometric data to generate a cryptogram for processing transactions, eliminating the need for external payment objects and enhancing security and privacy.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If physical payment cards or digitized equivalents are used for transactions, then transaction processing is enabled, but user burden increases and security is compromised
Solution Approach 1:
The patent extracts the identification and authentication functions from physical payment cards and digitized equivalents, replacing them with biometric authentication. The biometric data is enrolled and stored securely, allowing transactions to proceed without requiring users to present or manage physical or digital card objects, thereby reducing user burden while maintaining or enhancing security
Solution Approach 2:
The patent replaces the mechanical system of physical card presentation and handling with a biometric authentication system. Instead of swiping, inserting, or tapping physical cards, the system uses biometric samples (such as fingerprints, facial recognition, or other physiological characteristics) to authenticate users, eliminating the need for users to physically handle payment objects
2Reliability
If physical payment objects are required for transactions, then transaction authentication is achieved, but identity theft risk increases
Solution Approach 1:
The patent replaces physical payment objects that can be lost, stolen, or replicated with biometric authentication. Biometric characteristics are inherently tied to the user's physical identity and are extremely difficult to replicate or steal compared to physical cards or digital tokens, thereby reducing identity theft risk while maintaining authentication reliability
Solution Approach 2:
The patent implements preliminary biometric enrollment where users register their biometric data before actual transactions. This preliminary action creates a secure reference template that is stored and protected, enabling subsequent transactions to authenticate users based on their unique biometric characteristics rather than requiring them to present physical objects that could be compromised
Data Source
AI summary
Systems, methods and computer-readable storage media utilized to complete a cardless transaction on a distributed ledger network. One method includes receiving, by a point-of-sale (POS) computing device, a transaction request including a biometric sample from an individual associated with a payment account at a financial institution. The method further includes authenticating, by the POS computing device, the biometric sample by cross-referencing the biometric sample with a biometric dataset stored on the distributed ledger network. The method further includes, in response to authenticating the biometric sample, generating, by the POS computing device, a cryptogram associated with the biometric sample and processing, by the POS computing device, the transaction request utilizing the cryptogram.