Smart Credit Card with Location Tracking and Proximity Authentication
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Solution Overview
Problem
Existing credit card authorization systems lack effective mechanisms to ensure that the credit card is used by the authorized user, particularly in scenarios where the card is used outside of a predefined geographical area or by unauthorized individuals.
Innovation Solution
Incorporating location tracking circuitry in credit cards that communicate their location to a remote recipient, combined with proximity multi-factor authentication, to verify the user's authorization and deactivate the card when it is used outside a predetermined area.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If location tracking circuitry and proximity multi-factor authentication are implemented in credit cards, then security and authorization control are improved, but device complexity increases
Solution Approach 1:
The patent embeds location tracking circuitry, processors, and authentication mechanisms directly within the credit card itself, creating a nested structure where complex functionality is contained within a compact form factor. The card includes embedded processors, memory, and communication circuitry that work together to provide security functions without requiring external hardware devices.
Solution Approach 2:
The credit card is designed to perform multiple functions: traditional payment processing, location tracking, proximity authentication, and geographic area verification. This multi-functionality consolidates what would otherwise require separate devices into a single universal card system, improving security while managing complexity through integration.
2Reliability
If the credit card is deactivated when outside predefined geographical area, then unauthorized use is prevented, but ease of operation deteriorates
Solution Approach 1:
The system pre-establishes geographic areas and validity periods before the card is used. The processor is configured with predetermined geographic coordinates and time parameters in advance, allowing automatic verification against these pre-set parameters without requiring real-time manual authorization, thus maintaining ease of operation while preventing unauthorized use.
Solution Approach 2:
The card system continuously monitors location data from GPS or other positioning systems and provides feedback to the processor to determine whether the card remains within authorized geographic areas. This automatic feedback mechanism enables real-time verification without user intervention, balancing security with operational convenience.
Data Source
AI summary
A configured application for authorizing a credit card by a user and a method that may include receiving an electronic request to pair a mobile device associated with a user with a credit card of the user. The credit card may include a location tracking circuitry to remotely communicate a location of the credit card to a remote electronic recipient. The location of the credit card may be received by a processor from the remote electronic recipient. A proximity multi-factor authentication may verify that the user is an authorized user of the credit card. The mobile device associated with the user may be paired with the credit card of the user after verifying that the user is the authorized user. The processor may receive the location of the credit card paired with the mobile device from the remote electronic recipient. The location of the credit card may be displayed on a display of the mobile device associated with the user.