Mobile Authorization Holds for Identity Data Transaction Security
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Solution Overview
Problem
Existing systems fail to prevent the abuse and misuse of identity data in identity data-driven transactions, particularly in global commerce, as they rely on incomplete verification methods, leading to significant financial losses and reputation damage for banks, vendors, and individuals.
Innovation Solution
A mobile authorization service system that contacts identity data owners via SMS for real-time authorization of transactions, using a service provider or transaction processing entities to verify the authenticity of transactions before completion.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If real-time mobile authorization is implemented, then security and reliability are improved, but transaction processing time and system complexity increase
Solution Approach 1:
The system performs preliminary actions by pre-registering mobile device identifiers and authorization patterns before transactions occur. The authorization framework is established in advance, allowing rapid verification during transactions without real-time complex computations, thus improving security while minimizing processing time delays.
Solution Approach 2:
The mobile device acts as an intermediary authorization medium between the transaction system and the user. Instead of direct complex verification, the system uses the mobile device's pre-configured identification and communication capabilities as a mediator to confirm authorization, simplifying the real-time verification process while maintaining high security standards.
2Reliability
If mobile authorization systems are deployed, then security against identity theft is improved, but device complexity and implementation cost increase
Solution Approach 1:
The mobile device leverages its own existing capabilities (unique identifier, communication interface, processor) to perform authorization functions. The system uses the device's self-contained identification features rather than requiring external verification infrastructure, reducing overall system complexity while maintaining strong identity protection.
Solution Approach 2:
The mobile device serves multiple functions: it acts as identification credential, communication channel, and authorization decision point. By utilizing the universal mobile device already present in users' possession for multiple security-related tasks, the system avoids adding specialized hardware or complex verification infrastructure, thereby reducing implementation complexity while improving identity data protection.
Data Source
AI summary
A system of security that prevents misuse of identity data of an identity data owner in an identity data driven transaction in a global commerce network, that has in the system, a transaction processing entity that after it receives a identity data driven transaction from a transaction initiating entity, puts on hold the processing of the transaction for a period of time and via the identity data owner's wireless mobile communication device, contacts the identity data owner for authorization of the transaction before the transaction processing is completed. The system of security for identity data may be used in the identity data driven transaction is one from a group of (i) credit card payment, (ii) bank account payment, (iii) release of credit profile, (iv) release of financial data, and (v) release of medical data.