Embedded Payment IC with Standardized Protocol Interface
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Solution Overview
Problem
Existing electronic payment systems face high development costs, inflexibility, and security concerns due to the need for custom software implementations and certifications for each acquirer, making it difficult to integrate payment processing into various devices and appliances.
Innovation Solution
An embedded electronic payment system using an integrated circuit with a standard transaction protocol module and programmable API, which simplifies development by providing a prequalified chip that embeds merchant account functionality, reduces certification needs, and enhances security through a hardware-based encryption stack.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If custom software implementation is used for each acquirer, then payment processing can be tailored to specific acquirer requirements, but development costs and certification time increase significantly
Solution Approach 1:
The patent implements a universal payment processing chip that can handle multiple acquirer protocols through a standardized interface layer. The chip contains embedded logic that automatically adapts to different acquirer requirements without requiring custom software development for each acquirer, thus achieving multi-functionality while reducing complexity.
Solution Approach 2:
The patent introduces an intermediary standardized protocol layer between the payment terminal and different acquirers. This intermediary layer translates various acquirer-specific protocols into a unified internal format, eliminating the need for custom software implementation for each acquirer while maintaining adaptability.
2Adaptability or versatility
If software-based payment processing is implemented, then flexibility in implementation is achieved, but security exposure to hacking and malware increases
Solution Approach 1:
The patent replaces software-based payment processing with a hardware-based payment chip. This substitution moves the payment processing functionality from the vulnerable software layer to a secure hardware layer, significantly reducing exposure to hacking and malware while maintaining implementation flexibility through configurable hardware parameters.
Solution Approach 2:
The patent creates a composite payment system that combines secure hardware elements with flexible software interfaces. The hardware chip provides security while the software layer provides adaptability, achieving both security and flexibility through the composite architecture.
3Reliability
If payment system is upgraded to improve security or add features, then system capability increases, but cost and implementation difficulty increase
Solution Approach 1:
The patent incorporates security features and multiple acquirer protocols directly into the payment chip during manufacturing. By performing the security configuration and protocol integration in advance during chip production, upgrades and security enhancements can be deployed simply by replacing the chip, eliminating complex implementation processes.
Solution Approach 2:
The patent enables different security levels and protocol configurations through parameter changes in the hardware chip rather than software modifications. This allows security upgrades to be achieved by reconfiguring hardware parameters or replacing the chip, significantly reducing implementation difficulty and cost.
4Reliability
If certification is required for each acquirer integration, then payment processing compliance is ensured, but development time and costs increase
Solution Approach 1:
The patent creates a universally compliant payment chip that is pre-certified to work with multiple acquirers through a standardized interface. This universal certification eliminates the need for separate certification processes for each acquirer integration, significantly reducing development time while ensuring compliance.
Solution Approach 2:
The patent performs acquirer compliance certification in advance during chip development and manufacturing. By obtaining certifications beforehand, the system eliminates time-consuming certification processes during deployment and integration phases.
Data Source
AI summary
An embedded electronic payment (EEP) system allows various devices and appliances to act as a merchant to accept electronic payments. The EEP system can be formed on an integrated circuit or as a software applet to run on a virtual machine. The integrated chip can be a standard IC, an application specific integrated chip, programmable logic device, or a multiprocessor based microcontroller. The EEP system operates with a standard interface that can be adapted to many applications. As a result, the cost of payment integration is reduced. The reduced cost of inclusion allows electronic payment systems to be applied in systems and devices where cost margins previously prohibited custom electronic payment systems. When the EEP system is included as an integrated chip, the system has improved security and power consumption compared to software solutions.