Real-time delegated approval for network-connected payment devices
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Current payment systems face challenges in dynamically delegating approvals for data exchanges between network-connected devices, particularly in ensuring secure and efficient transaction processing across various payment instruments and merchant systems.
Innovation Solution
The implementation of a computer-implemented system that determines the appropriate data type for a data exchange, generates signals for approval, and performs the exchange based on parameter values, allowing for dynamic delegation of approvals to network-connected devices, enabling secure and efficient transaction processing.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If real-time delegated approval is implemented for data exchanges, then transaction security is improved, but system complexity increases
Solution Approach 1:
The approval process is segmented into multiple independent components: initiation device, delegated approval device, and processing device. Each device operates independently with specific functions, allowing the system to maintain high security through distributed decision-making while reducing overall complexity by assigning dedicated tasks to each segment.
Solution Approach 2:
A delegated approval device acts as an intermediary between the initiation device and the processing device. This intermediary receives requests, obtains user approval through communication channels, and relays decisions back to the processing device, thereby enhancing security through additional verification while managing complexity through a standardized mediation layer.
2Reliability
If multiple communication channels are used for approval signals, then reliability of approval process is improved, but device complexity increases
Solution Approach 1:
The communications device is designed with multi-functionality to handle various communication channels (display interface, audio output, wireless communication) through a unified architecture. This universal design allows the device to reliably transmit approval signals through multiple channels while avoiding the complexity of implementing separate dedicated systems for each channel.
3Reliability
If user approval is required for data exchanges, then security is improved, but transaction processing time increases
Solution Approach 1:
The system performs preliminary actions by establishing communication channels and preparing approval interfaces in advance. When a data exchange request arrives, the approval process can immediately utilize pre-configured channels and interfaces, reducing the actual approval time while maintaining security requirements.
Solution Approach 2:
The system implements expedited approval processes for low-risk transactions by skipping certain verification steps or using simplified approval interfaces. High-risk transactions undergo complete approval procedures, while routine transactions can be approved quickly through pre-configured channels, thereby reducing overall processing time while maintaining security for critical operations.
Data Source
AI summary
The disclosed embodiments include computer-implemented systems, apparatuses, and processes that perform a real-time delegated approval of initiated data exchanges by network-connected devices. For example, an apparatus determines determine a value of a parameter that characterizes an exchange of data and a first data type involved in the data exchange, and generates and transmits a first signal to a communications device associated with a second data type available for use in the data exchange and associated with the first data type. The apparatus receives, from the communications device, a second signal that includes information indicative of an approval of the second data type for use in the data exchange, and in response to the received approval, the apparatus performs the data exchange using the second data type and in accordance with the parameter value.