IC Card Payment System Using Dual Encryption for Identity Verification
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Solution Overview
Problem
Existing payment systems using bank cards face security risks due to low anti-counterfeit capabilities of magnetic strip cards, high costs associated with transitioning to smart cards, and inadequate verification of user identity, leading to potential financial losses.
Innovation Solution
A payment system utilizing an IC identification card that encrypts user identity and bank account information using encryption keys, with an intermediary platform facilitating secure transactions between the user's IC identification card and the participating bank, enhancing security through digital anti-counterfeit measures and anti-fake printing technologies.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If magnetic strip bank cards are used for payment transactions, then the system is easy to operate and widely compatible, but the anti-counterfeit capability is low and security risks are high
Solution Approach 1:
The system separates the identification function (IC card) from the payment authentication function (bank card). The IC card provides secure identity verification while the bank card handles transactions, allowing each component to be optimized independently for security and cost-effectiveness
Solution Approach 2:
The IC card acts as an intermediary between the user and the bank card system. It provides an additional layer of identity verification that mediates the authentication process, enhancing security without requiring complete replacement of the existing bank card infrastructure
2Reliability
If smart cards with EMV technology are used to replace magnetic strip cards, then the anti-counterfeit capability and security are improved, but the manufacturing cost and system transformation cost are very high
Solution Approach 1:
The system makes the IC card universally applicable for identity verification across different payment scenarios. By establishing a standardized IC card reading and verification mechanism, the system achieves broad compatibility without requiring specialized smart card infrastructure for each transaction type
Solution Approach 2:
The system uses relatively low-cost IC cards rather than expensive smart cards with EMV chips. While IC cards have lower security features compared to EMV smart cards, they provide sufficient security for identity verification when combined with the bank card system, and can be replaced more easily if compromised
3Reliability
If existing POS and ATM terminals are modified to read smart cards, then the security is improved, but the transformation cost is very expensive
Solution Approach 1:
The system creates a functional copy of the identity verification process using IC cards instead of requiring physical modification of terminals to support smart cards. The IC card reading capability is implemented as a software or modular addition that replicates the security function without complete terminal replacement
Solution Approach 2:
Instead of modifying existing terminals to read smart cards, the system inverts the approach by adding IC card reading capability to the terminal and using the IC card as the primary identity medium. This reverses the traditional smart card implementation strategy and achieves similar security goals with lower transformation costs
4Reliability
If only bank account password encryption is used during transmission, then the system is simple to implement, but the security is insufficient as financial information may be obtained by penetrators
Solution Approach 1:
The system performs identity verification using the IC card before the actual payment transaction takes place. This preliminary verification step ensures that only authorized users can initiate transactions, preventing unauthorized access even if password encryption is compromised during transmission
Solution Approach 2:
The IC card verification serves as a preliminary countermeasure against identity theft and unauthorized transactions. By verifying the user's identity through the IC card before processing the transaction, the system pre-empts potential security breaches that could occur during password transmission
Data Source
AI summary
A payment system utilizes an IC identification card to identify a user, finds and verifies a bank account of the user. The payment system uses an IC identification card reader to read user identity information which includes a user identification card number. The system encrypts user identity information using a first encryption key and encrypts the user-entered bank account password using a bank encryption key corresponding to a participating bank, and sends the encrypted information to an intermediary platform, which sends a bank transaction request including user identity information, bank account password and transaction amount to the participating bank subsystem. The participating bank subsystem conducts the requested bank transaction with a user bank account, which is determined according to the user identification card number either by the intermediary platform or by the participating bank subsystem based on a mapping relationship between the user identity information and bank accounts.