Dynamic Token Generation for Payment Security
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Solution Overview
Problem
Conventional credit card payment systems rely solely on static information for authorization, making them vulnerable to fraud and theft, as they do not incorporate dynamic elements that could enhance security.
Innovation Solution
A payment transaction system that generates a token based on both static and dynamic information, using a campaign manager unit on a mobile device to combine financial behavior history with preemptive information for each transaction, which is then verified by a campaign director system at a financial institution.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If static information is used for payment authorization, then the system is simple and convenient to operate, but the system becomes vulnerable to fraud and theft
Solution Approach 1:
The patent transforms the static authorization system into a dynamic one by introducing time-varying tokens that are generated based on financial behavior history. The token changes over time and is specific to each transaction attempt, making the system adaptive and responsive to current behavior patterns while maintaining ease of operation through automated token generation.
Solution Approach 2:
The patent changes the authorization parameter from static card information to dynamic tokens that incorporate temporal and behavioral parameters. The token generation process uses financial behavior history as input parameters, transforming the authorization mechanism into one that considers time-dependent and behavior-dependent factors.
2Reliability
If dynamic tokens based on financial behavior history are used for payment authorization, then security against fraud and theft is improved, but the system complexity increases
Solution Approach 1:
The mobile device automatically generates tokens based on stored financial behavior history without requiring manual intervention or complex user actions. The system serves itself by autonomously creating authorization tokens, reducing the perceived complexity for users while maintaining high security through automated behavioral analysis.
Solution Approach 2:
The financial behavior history is pre-collected and stored in the mobile device before transactions occur. This preliminary action allows the token generation process to be rapid and simple during actual transactions, as the complex behavioral analysis has already been performed and stored in advance.
Data Source
AI summary
The disclosure describes a campaign director (CD) system associated with a financial institution and an associated campaign manager (CM) unit executing on a mobile device used to facilitate behavior based allocation of payment tokens and activation of payment transactions based on the tokens. The CM unit of the mobile device may be programmed by the CD system at the financial institution to generate tokens according to a token generation model that is a function of financial behavior history associated with a credit card account. When a credit card is used to initiate a payment transaction with a merchant, the CM unit of the mobile device may generate a token for the payment transaction and send the token to the CD system at the financial institution. The CD system then determines whether to activate the payment transaction based on the token and merchant data associated with the payment transaction.