Flexible Limit Share Accounts for Secure Wallet Fund Sharing
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Solution Overview
Problem
Conventional payment systems lack efficient and secure methods for enterprises to provide temporary access to funds for secondary users, especially when the secondary user is not related to the primary user, and physical payment cards pose risks and incur high costs, while smart mobile wallets fail to facilitate shared access to funds.
Innovation Solution
A flexible limit share account (FLSA) system in a smart mobile wallet that allows temporary access to funds based on user-defined conditions, authenticated using mobile driver's licenses (mDLs) for secure sharing between primary and secondary users.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If physical pre-pay cards are provided to secondary users for temporary access to funds, then access to funds is enabled, but security risks increase due to potential loss, theft, and misuse
Solution Approach 1:
The patent replaces physical pre-pay cards with virtual card numbers that can be generated and transmitted electronically. This virtual copy enables the same fund access functionality without the physical security risks of losing or stealing a actual card. The virtual card number can be shared securely through digital channels and can be deactivated remotely if compromised.
Solution Approach 2:
The patent substitutes the mechanical physical card system with an electronic/digital system. Instead of relying on physical plastic cards that can be lost or stolen, the system uses electronically generated virtual card numbers that can be transmitted via digital communication channels, eliminating the physical security vulnerabilities.
2Reliability
If physical pre-pay cards are generated and replaced, then access to funds is maintained, but resource costs and computational complexity increase
Solution Approach 1:
Instead of generating and managing physical card stock, the system creates virtual copies of card numbers electronically. This eliminates the need for physical card production, inventory management, and destruction processes, significantly reducing resource consumption and operational complexity while maintaining continuous access capability.
Solution Approach 2:
The patent extracts the essential function of fund access from the physical card medium itself. By separating the card number generation from physical card production, the system eliminates the resource-intensive processes of manufacturing, shipping, and managing physical cards, keeping only the essential digital authentication function.
3Reliability
If conventional smart mobile wallets are used, then secure payment execution is enabled, but shared access to funds between multiple users is not possible
Solution Approach 1:
The patent segments the fund access rights by creating separate virtual card numbers for different users while maintaining connection to a shared payment account. This allows multiple users (primary user, family members, designated users) to have independent access credentials that can be individually managed, tracked, and revoked, enabling shared access while preserving security controls.
Solution Approach 2:
The patent makes the smart mobile wallet system universal by enabling it to serve multiple user types and access scenarios. The system can accommodate primary users, family members, and designated users all accessing the same payment account through different virtual card numbers, making the wallet adaptable to various sharing arrangements while maintaining secure payment execution.
4Reliability
If authentication processes for secondary users are made more secure, then security is improved, but computational complexity and resource consumption increase
Solution Approach 1:
The patent performs authentication and verification actions in advance when creating and distributing virtual card numbers. By pre-authenticating the secondary user's identity and pre-establishing their access rights, the system avoids needing to perform complex real-time authentication during each transaction, reducing computational resources required at the point of use while maintaining security.
Data Source
AI summary
Systems, apparatuses, methods, and computer program products are disclosed for providing a flexible limit share account (FLSA) to one or more smart mobile wallets associated designated and/or secondary users. An example method includes generating an FLSA associated with an existing payment account of a primary user, where the FLSA may be utilizable only in alignment with various predetermined conditions set forth by the primary user. The example method further includes authenticating, based on an FLSA share request, the primary user and at least one designated user based on a first mobile driver’s license (mDL) associated with the primary user and a second mDL associated with the designated user. The example method further includes providing the FLSA to a smart mobile wallet associated with the designated user such that the FLSA may be utilized to complete various types of approved transactions.