Cardless ATM Transactions via Mobile Wallet QR Authentication
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Solution Overview
Problem
There is a need for cardless ATM transactions that do not rely on physical debit or credit cards, enabling secure and convenient access to ATM services using personal computing devices.
Innovation Solution
A method and system that create a mobile-wallet data set on a personal computing device, which is used to initiate and execute ATM transactions by inputting debit-card and personal information, and then validating and authenticating through a server-hosted system, allowing for cardless transactions by scanning a QR code at an ATM.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If physical debit or credit cards are used for ATM transactions, then the transaction process is simple and straightforward, but the system requires physical card infrastructure and poses risks of card loss, theft, or damage
Solution Approach 1:
The patent replaces the physical card with a digital representation (QR code or NFC data) that contains the necessary transaction information. The mobile device creates and displays a digital copy of card data that can be read by the ATM, eliminating the need for the physical card while maintaining transaction functionality.
Solution Approach 2:
The patent substitutes the mechanical insertion of a physical card into the ATM slot with electronic data transmission methods (QR code scanning or NFC communication). This replaces the mechanical card-reading system with optical or electromagnetic field-based data exchange, eliminating wear and tear on physical components.
2Reliability
If cardless transaction methods are implemented using mobile devices, then security is enhanced by eliminating physical cards, but the device complexity and authentication requirements increase
Solution Approach 1:
The patent leverages the mobile device's existing capabilities (camera for QR scanning, NFC reader, secure storage) to perform multiple functions including authentication, data transmission, and transaction initiation. The ATM similarly uses its existing display and scanner/NFC reader for multiple purposes, reducing the need for specialized hardware.
Solution Approach 2:
The patent introduces a server as an intermediary that hosts the wallet data and validates transactions. The server acts as a trusted third party that authenticates the mobile device and authorizes transactions, distributing the security complexity away from the ATM and mobile device while maintaining strong security controls.
3Device complexity
If traditional card-based ATM transactions are used, then the system infrastructure is simple and well-established, but the system requires physical card distribution and management
Solution Approach 1:
The patent requires the user to pre-register their account information and create a digital wallet representation in the mobile device before using the ATM. This preliminary setup stores the necessary authentication and transaction data in the mobile device, enabling cardless transactions without requiring physical card distribution or reprogramming at the point of use.
Data Source
AI summary
An automatic-transaction-machine (ATM) has a processor that controls at least portions of some financial transactions conducted by the ATM. A banking computer system associated with the ATM is receives a pre-created transaction request from a customer using a mobile device. When the customer later brings the mobile device to the ATM, the ATM presents transaction-verification data to be received by the mobile device. The ATM is configured to receive mobile-verification data back from the mobile device that is responsive to the transaction-verification data. When the mobile-verification data is authenticated by the banking computer system the ATM is configured to execute the pre-created transaction request.