Hybrid Tokenization for Push Payment Security
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Solution Overview
Problem
Existing funds transfer systems lack adequate security measures to protect sensitive payment account information from exposure during transactions, which poses a risk of unauthorized access and exploitation.
Innovation Solution
A token-based system where a user's payment account is represented by a token stored on a transaction originator server, with a mobile device bound to the token using a split authentication code process, ensuring secure initiation and execution of funds transfer transactions by tokenizing payment credentials and shielding actual account information.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If payment account information is transmitted during funds transfer transactions, then transaction functionality is enabled, but security risk increases due to exposure of sensitive information
Solution Approach 1:
The authentication code is divided into two separate parts: a first part transmitted to the user's device via push notification, and a second part transmitted to the transaction originator. Both parts are required to complete the transaction, preventing unauthorized use of either part alone and eliminating the need to transmit sensitive payment account information across the network.
Solution Approach 2:
A token is introduced as an intermediary that represents the payment account on the transaction originator server. The token can be bound to the user's device through the split authentication process, allowing transactions to proceed without exposing the actual payment account number. The token acts as a mediator between the payment account and the transaction system.
2Productivity
If payment account information is stored on the transaction originator server, then transaction processing is simplified, but security vulnerability increases due to potential interception or improper appropriation
Solution Approach 1:
Instead of storing the actual payment account information, the system stores a token that copies the essential functionality of the payment account. The token can be bound to the user's device through the split authentication process, allowing the transaction originator to process transactions efficiently without holding sensitive payment account data that could be intercepted or misappropriated.
3Ease of operation
If authentication code is transmitted in a single part to the device, then user operation is simplified, but security is weakened due to potential compromise of the entire code
Solution Approach 1:
The authentication code is segmented into two parts with distinct distribution paths: the first part is sent to the user's device via push notification, while the second part is sent to the transaction originator. Both parts must be combined to complete authentication, maintaining user-friendly operation while significantly enhancing security through the split structure.
Data Source
AI summary
A method of performing a funds transfer includes receiving a request for a cryptogram and generating an authentication code. The authentication code is divided into a first code portion and a second code portion. The first code portion is transmitted to a user device. The second code portion is transmitted to a transaction originator. A request for transaction data is received, including both code portions. The authentication code is verified based on the two code portions. A cryptogram is generated and transmitted to the transaction originator.