Dual-Scan Identifier Matching for Secure Financial Transactions
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Solution Overview
Problem
Existing transaction systems face inefficiencies and inconvenience in processing financial transactions, particularly in verifying and authenticating payments using methods like currency, checks, and credit cards, which can be limited in certain situations.
Innovation Solution
A method and system that utilize scanning identifiers, such as bar codes or QR codes, on computing devices to initiate and authenticate financial transactions by matching first and second scans, allowing for the processing of transactions across locations and receiving user confirmations.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If traditional payment methods (currency, checks, credit cards) are used, then transactions can be processed, but efficiency and convenience are limited
Solution Approach 1:
The patent replaces physical payment methods (currency, checks, credit cards) with an electronic scanning system. The scanning device captures images of identifiers (barcodes, QR codes, or handwritten text) and processes transactions electronically, eliminating the need for physical cash handling, check processing, or card swiping. This substitution of mechanical/physical systems with electronic/optical systems directly improves both processing efficiency and user convenience.
Solution Approach 2:
The system creates digital copies of payment identifiers through scanning. Instead of processing physical objects directly, the scanner captures optical images (copies) of barcodes, QR codes, or handwritten text, converts them to digital data, and processes the transaction based on these copies. This allows for faster processing and eliminates the need to physically handle or verify original payment instruments.
2Reliability
If manual verification of payment methods is performed, then transaction authenticity can be confirmed, but time-consuming processes occur
Solution Approach 1:
The patent replaces manual verification processes with automated optical scanning and image recognition systems. The scanning device automatically captures identifiers, converts them to digital data, and verifies transactions electronically, eliminating the need for manual inspection of checks, credit cards, or currency. This automation maintains authentication reliability while dramatically reducing verification time.
Solution Approach 2:
The system performs preliminary scanning and identification of payment methods before the actual transaction processing. By capturing and validating the identifier (barcode, QR code, or handwritten text) in advance, the system prepares the transaction data ready for processing, eliminating the need for time-consuming manual verification during the transaction itself.
3Reliability
If multiple scanning devices are used to verify transactions, then security is improved, but system complexity increases
Solution Approach 1:
The patent describes a scanning system that can universally handle multiple types of identifiers (barcodes, QR codes, handwritten text) and can be implemented on various computing devices (mobile phones, tablets, computers). This multi-functional capability allows the same basic scanning technology to serve multiple verification purposes without requiring different specialized devices for each function, thereby improving security through multiple scanning points while limiting complexity growth.
Solution Approach 2:
The system uses an intermediary processing server that receives scanned identifier images from multiple scanning devices, performs the verification and matching operations, and coordinates the transaction approval. This intermediary centralizes the complex verification logic and database access, allowing multiple scanning devices to operate independently while maintaining security through centralized control, thereby distributing device complexity rather than concentrating it.
Data Source
AI summary
A method, computer program product, and computer system for receiving a first scan of an identifier from a first computing device is disclosed. The identifier is associated with a financial transaction. A second scan of the identifier is received from a second computing device. The financial transaction is processed based upon, at least in part, receiving the second scan of the identifier from the second computing device.