Mobile Wallet Tokenized Card Number Security
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Solution Overview
Problem
Current systems for mobile device-based fund transfers and payments lack enhanced security and efficiency, particularly in authenticating transactions and protecting user credit card information during mobile wallet transactions.
Innovation Solution
A computer-implemented method using a mobile wallet system that generates a tokenized card number, including a trace ID, which is transmitted to a user device and routed through various systems for authentication, ensuring that only the last four digits of the actual credit card number are visible to merchants, while the full number is securely processed, providing two levels of authentication.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If the actual credit card number is transmitted through multiple systems for mobile wallet transactions, then the payment processing can be completed, but the security of the credit card information is compromised
Solution Approach 1:
The patent introduces a tokenized card number as an intermediary that replaces the actual credit card number during transmission through mobile wallet systems. The tokenized number contains only the last four digits matching the actual card number, while other digits are generated randomly. This intermediary protects the actual credit card information from being exposed during transactions while still enabling successful payment processing through card network systems.
Solution Approach 2:
The patent creates a copy of the credit card number in the form of a tokenized card number that mimics the structure and format of a valid card number. This copy includes the same last four digits for verification purposes but has different other digits, allowing it to function as a secure substitute for the actual card number throughout the transaction process.
2Ease of operation
If the full credit card number is shared with merchants for transactions, then payment processing is simplified, but fraud risk increases
Solution Approach 1:
The tokenized card number serves as an intermediary between the user's actual card and the merchant's processing system. It maintains the necessary format and characteristics for payment processing while eliminating the exposure of the actual card number, thus reducing fraud risk without significantly complicating the transaction process.
Solution Approach 2:
The patent segments the credit card number into two parts: the last four digits which remain the same for verification purposes, and the other digits which are randomly generated for security. This segmentation allows the tokenized number to function as a valid card number for processing while protecting the actual card information from fraud.
3Reliability
If tokenized card numbers are generated and routed through multiple systems, then security is enhanced, but transaction processing time increases
Solution Approach 1:
The tokenized card number is generated and stored in the mobile wallet system before the actual transaction occurs. This preliminary action allows the tokenized number to be readily available during transactions, eliminating the need for real-time generation and reducing processing time while maintaining security enhancements.
Data Source
AI summary
A method includes receiving a fund access request from a user device associated with a user; generating a tokenized card number based on an actual card account number of the user that substitutes the actual card account number in a payment transaction; providing a code to the user device including the tokenized card number and a numeric or alphanumeric string of values; determining that the numeric or alphanumeric string of values in the code transmitted to the user device matches a numeric or alphanumeric string of values in a field of a code received from a separate computer system; determining that a location of the user device matches a merchant location; authenticating the payment transaction based on the numeric or alphanumeric match and the location match; and, transmitting the actual card account number to the separate computer system as part of the payment transaction.