Intermediary Authorization Layer for Multi-Source Payment Security
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Solution Overview
Problem
Existing EMV infrastructure lacks comprehensive authorization capabilities for transactions involving multiple accounts and real-time two-factor authorization, making it vulnerable to security breaches and inefficient in handling complex transaction scenarios.
Innovation Solution
A software layer is integrated into existing EMV infrastructure to provide comprehensive authorization capabilities, enabling transactions with multiple accounts, real-time two-factor authorization, and various use cases without altering the existing flow of information or requiring additional steps.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If EMV infrastructure is used for traditional transactions, then transaction processing is simple and fast, but security is insufficient for multi-account and complex transaction scenarios
Solution Approach 1:
The patent introduces an intermediary authorization system that sits between the traditional EMV infrastructure and the transaction processing. This intermediary layer evaluates multiple authorization criteria, checks multiple funding sources, and performs real-time authentication without disrupting the existing EMV flow, thereby enhancing security while maintaining system compatibility.
Solution Approach 2:
The authorization process is segmented into multiple independent evaluation steps: primary authorization check, secondary funding source verification, real-time authentication, and conditional approval. Each segment handles a specific aspect of security verification, allowing the system to comprehensively assess transaction legitimacy without overwhelming complexity.
2Reliability
If comprehensive authorization evaluations are implemented, then transaction security is enhanced, but processing time increases
Solution Approach 1:
The system performs preliminary actions by pre-configuring authorization rules, funding source hierarchies, and authentication methods before transactions occur. During actual transactions, the intermediary system quickly matches transaction details against pre-established criteria, enabling comprehensive security checks without significant processing delays.
Solution Approach 2:
The authorization system dynamically adjusts evaluation parameters based on transaction characteristics. For low-risk transactions, fewer authorization checks are performed, while high-risk transactions trigger more comprehensive evaluations. This parameter-based adaptation allows the system to maintain high authorization accuracy while minimizing processing time for routine transactions.
3Adaptability or versatility
If multiple funding sources are integrated, then transaction flexibility is improved, but system complexity increases
Solution Approach 1:
The intermediary authorization system is designed with universal functionality to handle multiple funding sources (credit cards, debit cards, digital wallets, bank accounts) through a unified interface. The system automatically routes transactions to appropriate funding sources based on pre-configured rules, providing payment flexibility without requiring separate integration processes for each funding type.
Data Source
AI summary
A system user computer, a payment system and a method are provided for facilitating split fee payments within existing financial institution infrastructure. The system user computer includes a processor, a memory database connected to the processor, and a computer readable medium coupled to the processor, the computer readable medium including code executable by the processor, to cause the processor to implement a method including steps of (a) creating an account for split fee payments for a financial transaction from multiple funding sources using payment processing infrastructure of a merchant and (b) specifying authorization evaluations required to approve the financial transaction.