Dynamic Payment Credential Provisioning for Transaction Security
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Solution Overview
Problem
Existing systems for provisioning payment credentials to consumers are prone to security risks and inflexible, as they often rely on a single payment credential format that may not be accepted at all payment acceptance points, limiting their usability and security.
Innovation Solution
A method and system that determine the appropriate payment credential format based on the transaction type, which can include various formats such as PAN, CVV, PIN, or QR codes, and transmit these credentials to the consumer's electronic device for specific transaction types, either generated internally or obtained from an external module, enhancing security and flexibility.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If a single payment credential format is used, then the system is simple to operate, but it is not accepted at all payment acceptance points
Solution Approach 1:
The payment credential system is designed to support multiple credential formats (PAN, CVV, PIN, QR codes) within a single unified system. The system automatically selects the appropriate format based on the transaction type and payment acceptance point requirements, enabling universal compatibility across different payment environments while maintaining operational simplicity for the consumer.
2Adaptability or versatility
If multiple payment credential formats are supported, then adaptability to different payment acceptance points is improved, but device complexity increases
Solution Approach 1:
The system employs automated selection logic that independently determines the appropriate payment credential format based on the transaction type and payment acceptance point requirements. This self-service mechanism eliminates the need for consumers to manually configure or understand different credential formats, thereby supporting multiple formats without increasing user-facing complexity.
3Adaptability or versatility
If payment credentials are transmitted to consumer's electronic device, then flexibility and security are improved, but security risks from interception increase
Solution Approach 1:
The system dynamically changes the format and type of payment credentials transmitted based on the specific transaction requirements and security considerations. By adapting the credential parameters (PAN, CVV, PIN, QR codes) to the transaction context, the system maintains flexibility while minimizing security risks associated with transmitting sensitive information.
Data Source
AI summary
A method and system for provisioning payment credentials to a consumer are disclosed. A remotely accessible server receives a request for payment credentials required to conduct a transaction, the request originating from an electronic device of a consumer. A transaction type associated with the transaction is determined, the transaction type being one of a plurality of predefined transaction types wherein each transaction type is associated with a predefined payment credential format. The remotely accessible server obtains payment credentials in the payment credential format associated with the determined transaction type and transmits the obtained payment credentials to the electronic device of the consumer for use in conducting the transaction.