Dynamic OTP Generation via Transaction Sub-Charges
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Solution Overview
Problem
Current methods for securing online transactions, such as those using credit cards or bank accounts, are vulnerable to payment fraud due to insecure transmission of access codes or one-time-passwords (OTPs) via mail, SMS, MMS, or email, which can be intercepted, allowing unauthorized use.
Innovation Solution
A computer-implemented method that determines a unique one-time-password (OTP) based on a plurality of sub-charges associated with a transaction, using an assembly key and mathematical transformation, ensuring each transaction has a unique password and enhancing security by linking the financial instrument to the access of goods or services, thereby reducing fraud risk.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If access codes or OTPs are transmitted via mail, SMS, MMS, or email, then customers can receive password information conveniently, but the transmission is vulnerable to interception and unauthorized use
Solution Approach 1:
The patent extracts the password generation function from the transmission channel. Instead of transmitting the complete OTP through vulnerable channels (SMS, email, mail), the system transmits only fragmented components (sub-charges) that are harmless individually. The complete password is reconstructed only at the point of use through mathematical transformation of these sub-charges, eliminating the security risk of transmission while maintaining convenience.
2Ease of operation
If a single password is used for multiple transactions, then users can remember the password easily, but the security risk increases if the password is compromised
Solution Approach 1:
The patent implements dynamic password generation where each OTP is unique to a specific transaction. The system dynamically creates sub-charges that are mathematically transformed into distinct passwords for each transaction. This dynamic approach ensures that even if one password is compromised, it cannot be used for other transactions, as each password is derived from transaction-specific sub-charges and becomes invalid after use.
3Reliability
If manual password changes are required for each transaction, then security is enhanced, but user convenience and time efficiency decrease
Solution Approach 1:
The patent implements self-service password generation where the system automatically creates unique OTPs for each transaction without requiring user intervention for password management. The customer simply receives the transaction-specific OTP through their chosen channel and uses it directly. The system handles the complex password generation, fragmentation into sub-charges, and transformation processes automatically, eliminating the time users would spend on manual password changes while maintaining high security.
Data Source
AI summary
There is provided a computer-implemented method for securing a transaction. The method comprises receiving or determining 193 a plurality of sub-charges associated with the transaction; and determining 195 a password to secure completion of the transaction based on the plurality of the sub-charges.