Mobile Payment Tokenization Server Architecture
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Solution Overview
Problem
Existing mobile devices may not be configured to securely store payment credentials, leading to security concerns and apprehension among consumers when using them for financial transactions, especially with near field communication, which limits their ability to conduct transactions both online and at point-of-sale without exposing account information.
Innovation Solution
A system and method that stores wallet data entries with mobile device identifiers and payment details in a database, allowing consumers to select a payment account for transactions without storing or transmitting sensitive information on the device, enabling secure authorization and processing of financial transactions through a processing server that communicates with both the mobile device and payment issuers.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If payment credentials are stored locally on the mobile device to enable financial transactions, then transaction convenience is improved, but device security requirements increase and consumers become apprehensive about interception
Solution Approach 1:
The patent extracts the payment credential storage function from the mobile device and relocates it to a secure server. The mobile device only stores a reference identifier (token) rather than actual payment credentials, eliminating the security risk of local storage while maintaining transaction convenience. The server securely stores the actual payment information and retrieves it during transactions.
Solution Approach 2:
The patent introduces a server as an intermediary between the mobile device and the payment network. This intermediary holds the sensitive payment credentials securely and only transmits them when needed for authorized transactions. The mobile device communicates with the server using non-sensitive identifiers, and the server acts as a secure mediator that protects consumer information while enabling transactions.
2Adaptability or versatility
If payment credentials are transmitted during near field communication to enable transactions, then transaction functionality is improved, but security risks increase due to potential interception
Solution Approach 1:
The patent extracts the sensitive payment credential transmission from the near field communication process. Instead of transmitting actual card numbers through NFC, the mobile device transmits only a token or reference identifier. The actual payment credentials remain securely stored on the server and are never transmitted through the potentially vulnerable NFC channel, eliminating interception risks while maintaining transaction functionality.
Solution Approach 2:
The patent uses a token or reference identifier as a copy that represents the actual payment credential without containing its sensitive information. This copy can be safely transmitted during near field communication, while the original sensitive credential remains securely stored on the server. The token serves as a functional substitute that enables transactions without exposing actual payment information.
3Reliability
If a platform is created without local storage of payment credentials, then security is improved, but device complexity increases due to server communication requirements
Solution Approach 1:
The patent implements a system where the server automatically manages payment credential storage, retrieval, and security. The mobile device does not need to implement complex security measures or credential management logic - it simply stores a token and communicates with the server. The server handles all security-critical functions, reducing the complexity burden on the mobile device while maintaining high security standards.
Data Source
AI summary
A method for processing a financial transaction includes: storing, in a database, a plurality of wallet data entries, wherein each wallet data entry includes at least a mobile device identifier and payment details associated with at least one payment account; receiving, by a receiving device, an authorization request for a financial transaction, wherein the authorization request includes at least a mobile device identifier and transaction data; transmitting, to a mobile computing device associated with the mobile device identifier, at least the transaction data; receiving, from the mobile computing device, an indication of a payment account for funding of the financial transaction; identifying, in the database, payment details associated with the indicated payment account in a wallet data entry including the mobile device identifier included in the authorization request; and transmitting, to an issuer associated with the indicated payment account, at least the payment details and the transaction data.