Mobile Wallet ID Tokenization for Secure POS Transactions
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Solution Overview
Problem
Conventional methods for using credit cards, rewards, and coupons are cumbersome and often lead to missed opportunities during transactions due to the need to carry multiple cards and manually retrieve relevant information, causing delays and frustration for both merchants and customers.
Innovation Solution
A mobile wallet system that digitizes a customer's ID and links it to various payment options, rewards accounts, and coupons, allowing for a centralized, internet-centric approach to accessing and utilizing these services during transactions, using a validated ID image and token for secure and seamless payments.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If merchants manually check picture identification and customers carry multiple credit cards, then credit card fraud is reduced, but transaction time increases and customer convenience deteriorates
Solution Approach 1:
The patent creates a digital copy of the customer's identification and payment information stored in a mobile wallet application. This digital copy replaces the need for physical ID cards and multiple credit cards, allowing rapid access during transactions while maintaining security through encrypted storage and biometric authentication.
Solution Approach 2:
The system performs preliminary actions by pre-storing validated identification and payment information in the mobile wallet before the transaction occurs. The customer's ID is verified and payment methods are pre-configured, eliminating the need for manual checking and card retrieval during the actual transaction process.
2Adaptability or versatility
If customers carry multiple credit cards for different accounts, then payment options increase, but ease of operation decreases due to difficulty in retrieving the correct card
Solution Approach 1:
The mobile wallet application serves as a universal platform that consolidates multiple payment methods, identification documents, and account information into a single device. The system can automatically select and present the appropriate payment method based on the transaction context, eliminating the need for customers to manually search through multiple physical cards.
Solution Approach 2:
The system provides self-service by automatically managing the selection and presentation of appropriate payment methods. The mobile wallet intelligently determines which credit card or payment method to use based on stored preferences, account types, and transaction requirements, without requiring customer intervention to choose the correct card.
3Reliability
If merchants manually verify customer identification, then security is improved, but device complexity and operational burden increase
Solution Approach 1:
The patent replaces the manual mechanical process of physically examining ID cards with automated electronic verification. The mobile wallet stores encrypted digital copies of identification, and the system uses automated authentication methods including biometric verification to validate customer identity, eliminating the need for merchants to manually inspect physical documents.
Solution Approach 2:
The mobile wallet application serves as an intermediary between the customer's identification and the merchant's verification system. Instead of merchants directly handling and verifying physical ID cards, the wallet application mediates the process by providing digital verification through secure communication protocols, simplifying the merchant's role to merely presenting the digital ID for verification.
Data Source
AI summary
A system and method for using a customer ID stored in a mobile wallet to facilitate a transaction is disclosed. The method stores, at a memory of a mobile device, a metadata file formatted for the mobile wallet on the mobile device, the metadata file includes an image of a customer's ID and a token. The metadata file is opened in the mobile wallet by one or more processors of the mobile device. When the metadata file is opened, an image of a customer's ID and a token is presented by the customer's mobile device. The presentation of the image of the customer's ID and the token on the mobile device is used to facilitate payment at a point-of-sale.