Digital Wallet Account Provisioning for Cross-Platform Tokenization
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Solution Overview
Problem
Existing digital wallets and online transaction processors face compatibility issues due to incompatible data processing schemes and security threats, preventing seamless integration and real-time transaction authorization, especially for contactless payments.
Innovation Solution
The online transaction processor provides a specific identifier, such as a BIN, that complies with ISO/IEC standards, enabling integration with digital wallets for contactless payments by generating and provisioning identifiers through tokenization, allowing real-time transaction authorization and approval.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Speed
If digital wallets use specific data processing schemes for contactless payments, then transaction speed and convenience are improved, but compatibility with online transaction processors deteriorates
Solution Approach 1:
The patent introduces a token service provider as an intermediary that issues tokens compliant with both digital wallet requirements (for fast contactless processing) and online transaction processor requirements (for compatibility). The token acts as a mediator that enables seamless communication between the two systems without requiring either system to change its core processing scheme.
2Reliability
If real-time restrictions are enforced on account usage for security, then security reliability is improved, but transaction processing time increases
Solution Approach 1:
The system performs preliminary security checks and establishes trust relationships in advance by issuing tokens with embedded security credentials. During actual transactions, the pre-established token validation provides security assurance without requiring time-consuming real-time analysis, thus maintaining both security reliability and fast processing.
3Reliability
If specific integrations are required for data processing operations, then security control is improved, but system complexity increases
Solution Approach 1:
The token service provider serves as an intermediary that handles complex integration requirements between digital wallets and online transaction processors. By centralizing the integration logic in the token issuance and validation process, the system maintains strong security control while reducing the complexity burden on individual wallet and processor implementations.
Data Source
AI summary
There are provided systems and methods for establishing digital account usage in digital wallets during cross-platform data processing. A user may engage in a transaction with another user, such as a purchase of goods, services, or other items a merchant using a digital wallet, such as through a software application. An online transaction processor may provide a digital account for payment processing, which may provide financing and installment loan payment services. Where the payment account may not be compatible with the protocols and procedures for use with the digital wallet, a specific identifier may be provisioned, and proxy data may be generated between the transaction processor's system and the digital wallet's system through exchanged calls and data. The identifier may imitate data used by the digital wallet and may also allow for tokenization and processing with token service providers on payment networks.