Dynamic Payment Service Virtual Chip Intermediary
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Many user devices lack onboard computer chips, making it difficult to implement mobile device payment services that require separate chip configurations for secure transactions.
Innovation Solution
A dynamic payment service system that uses a user device with a processor, interface, transceiver, and memory to communicate with a vendor server and merchant system, enabling credit requests and transactions through identification, authentication, and purchase detail information, with the vendor server determining the scope of credit to be issued based on transaction details.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If mobile device payment services require onboard computer chips for secure transactions, then transaction security is improved, but device compatibility deteriorates because many user devices do not include such chips
Solution Approach 1:
The patent introduces a server as an intermediary that hosts a virtual container simulating an onboard chip environment. This server mediates between the user device and payment systems, providing secure transaction processing without requiring physical chips in the device. The virtual container on the server replicates chip functions, enabling secure payments on devices lacking onboard security elements.
Solution Approach 2:
The patent creates a virtual copy of the onboard chip environment through a simulated container on the server. This virtual container replicates the security functions and interface of a physical chip, allowing the payment system to interact with it as if it were a real onboard chip, thereby providing chip-based security without requiring physical chip hardware in the user device.
2Adaptability or versatility
If a virtual container simulating an onboard chip is implemented on a server, then device compatibility is improved, but system complexity increases due to additional server infrastructure requirements
Solution Approach 1:
The server hosting the virtual container serves multiple functions: it acts as a secure payment processing platform, a chip simulation environment, and a compatibility layer for various devices. By consolidating these functions in a single server infrastructure, the system achieves broad device compatibility without proportionally increasing complexity, as the server handles multiple roles that would otherwise require separate components.
3Adaptability or versatility
If dynamic credit scope is implemented based on transaction details, then transaction flexibility is improved, but processing time increases due to additional evaluation steps
Solution Approach 1:
The system performs preliminary evaluation of the user's credit profile and transaction parameters before the actual transaction is initiated. By pre-assessing creditworthiness and determining credit scope in advance based on stored user data and transaction type, the system reduces processing time during the actual payment, as the credit decision framework is already established before the transaction completes.
Data Source
AI summary
Systems and methods may provide for implementing a dynamic payment service. In one example, the method may generate a request communication including purchase detail information relating to an item to request credit from a vendor to conduct a transaction relating to the item, determine a scope of credit to be issued to conduct the transaction relating to the item based on the purchase detail information, and generate a payment communication including the transaction information to complete the transaction relating to the item.