Electronic Money Transfer via Server Authentication
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Solution Overview
Problem
Existing electronic money transfer systems using IC cards and portable terminals face challenges in securely transferring electronic money, as they are vulnerable to loss or theft, leading to potential unauthorized transactions and limited protection against fraud.
Innovation Solution
A method and system that utilize near field communication and an electronic money management server to authenticate user terminals and securely transfer electronic money by exchanging certificates and access keys, ensuring that transactions are only completed if the terminals are properly authenticated and the funds are available, mimicking the security of cash transactions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If electronic money is stored in IC cards or portable terminals, then convenience of payment is improved, but security against loss or theft deteriorates
Solution Approach 1:
The system separates electronic money storage from terminal devices. Electronic money is stored in a server database rather than in IC cards or portable terminals, dividing the system into terminal access components and central storage components. This allows terminals to be lost or stolen without compromising the actual electronic money funds.
Solution Approach 2:
The system introduces an electronic certificate and access key mechanism as an intermediary between the terminal and electronic money storage. The terminal cannot directly access electronic money without proper authentication through certificates and keys, creating a security layer that protects against unauthorized access even if the terminal is compromised.
2Reliability
If electronic certificates and access keys are exchanged between terminals, then transaction security is improved, but system complexity deteriorates
Solution Approach 1:
The electronic certificate serves multiple functions simultaneously: it authenticates the terminal's identity, authorizes access to electronic money, and enables secure transactions. This multi-functionality reduces the need for separate authentication mechanisms, thereby limiting the increase in system complexity while maintaining high security.
Solution Approach 2:
The system uses digital copies of certificates and keys that can be transmitted electronically between terminals and servers. Instead of physical security tokens, the system replicates security credentials through digital data, simplifying the distribution and management of security mechanisms while maintaining cryptographic security.
Applied Scientific Principles
This section explains which scientific principles are used to turn an abstract innovation direction into a practical engineering solution.
Function Achieved in This Case
This approach enhances the security of electronic money transfers by preventing unauthorized transactions and ensuring that even if a terminal is lost or stolen, the associated electronic money cannot be accessed without the user's authentication, thus providing a secure and reliable method for handling electronic money similar to cash.
Implementation Method 1
at least part of the second electronic certificate information is received from the second user terminal by the first user terminal via near field communication
Data Source
AI summary
This electronic money transfer system provides an electronic money transfer method and a system for the same which allow handling electronic money in a sense that is very similar to cash, and which allow avoidance of loss of the electronic money even at a time of loss or theft of a terminal for operating the electronic money. To this end, first, information of an electronic certificate for a terminal (A) of a user A is sent from a terminal (B) of a user B to an electronic money management server (300), and information of the electronic certificate for the terminal (B) is sent from the terminal (A) to the electronic money management server (300). Thus, the terminals to perform the transaction are authenticated. Then, requests for a payment/receipt of electronic money is sent from the terminal (A) and the terminal (B) to the electronic money management server (300), based on which requests, the electronic money is transferred from the account of the user (A) to the account of the user (B) within the electronic money management server (300).