Dynamic Payment Authentication via Hashed Account Linking
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Solution Overview
Problem
Users face inconvenience in carrying multiple payment devices and accounts associated with different financial institutions for transactions at self-service kiosks and other points of sale.
Innovation Solution
The system enables dynamic authentication and access to registered accounts for transactions, even if the physical device associated with the account is not present, by retrieving user data, requesting user profile data from external entities, and generating a hash for authentication.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If users carry multiple payment devices and accounts from different financial institutions, then they can access all their accounts for transactions, but the convenience and ease of carrying devices deteriorates
Solution Approach 1:
The system creates a virtual copy of multiple payment devices and accounts in a centralized database. Instead of users physically carrying multiple devices, the system stores replicated account information and authentication data, allowing users to access any account through a single interface without needing the physical devices present.
Solution Approach 2:
The system introduces a centralized authentication server as an intermediary between users and multiple financial institutions. This intermediary manages the linkage between user identities and various accounts, handling authentication requests and coordinating access across different financial entities without requiring users to manage multiple physical devices.
2Reliability
If the system stores encrypted authentication data for multiple devices, then authentication security is improved, but the complexity of managing and processing authentication requests worsens
Solution Approach 1:
The system segments authentication data by separating encrypted authentication information from account information. Each payment device has its encrypted authentication data stored independently in the database, allowing the system to process authentication requests efficiently by retrieving only the necessary data for each specific device without managing a monolithic complex data structure.
Solution Approach 2:
The system changes the state of authentication data from plain text to encrypted format stored in the database. By transforming authentication parameters into encrypted form, the system maintains high security while simplifying data management, as the encrypted data can be directly compared during authentication without requiring complex decryption and verification processes.
3Adaptability or versatility
If the system dynamically retrieves user profile data from external entities, then the versatility and adaptability of the system is improved, but the time required for data retrieval and transaction processing worsens
Solution Approach 1:
The system performs preliminary action by pre-storing user profile data and account information in the centralized database during registration. When authentication is needed, the system retrieves pre-fetched data rather than querying external entities in real-time, significantly reducing transaction processing time while maintaining the ability to access comprehensive user information.
Solution Approach 2:
The system implements feedback mechanisms where authentication results and transaction status are communicated back to users and financial institutions. This feedback loop allows the system to optimize future data retrieval operations based on actual usage patterns, reducing unnecessary data requests and improving overall processing efficiency.
Data Source
AI summary
Arrangements for account linking and dynamic device selection are provided. Registration data including one or more user accounts and/or payment devices may be received. A request to process a transaction may be received via a first device. User data may be retrieved to identify other devices. One or more external entities may provide user profile data including raw customer data and encrypted authentication data. A hash of the encrypted authentication data may be generated and stored. The system may dynamically generate a rendering displaying one or more payment devices available for selection. A second payment device may be selected and authentication data associated with the second payment device received. A hash of the authentication data may be generated and compared to the stored hash of the encrypted authentication data. If the hashes match, the transaction may be processed. If there is not a match, the transaction may be denied.