Mobile Wallet Authentication via Token Segmentation
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Solution Overview
Problem
Existing systems for mobile wallet transactions lack efficient and secure methods for authenticating users and processing payments using mobile devices, leading to potential fraud and security risks.
Innovation Solution
A computer system that authenticates mobile wallet transactions by matching user-provided login credentials with stored credentials, and by verifying device and customer tokens stored on the mobile device and in the system's database, ensuring that the transaction is legitimate and secure.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If multiple authentication methods (login credentials, device token, customer token) are implemented, then transaction security is improved, but authentication complexity increases
Solution Approach 1:
The authentication system is divided into three independent components: login credentials verification, device token verification, and customer token verification. Each component operates separately but contributes to the overall authentication process, allowing the system to maintain high security while managing complexity through modular design.
Solution Approach 2:
Tokens (both device tokens and customer tokens) serve as intermediaries between the mobile device and the computer system. These tokens encapsulate authentication information and enable secure verification without requiring direct exposure of sensitive credentials, thus enhancing security while streamlining the authentication flow.
2Object-affected harmful factors
If token-based authentication is used to enhance security, then fraud risk is reduced, but system implementation complexity increases
Solution Approach 1:
Device tokens and customer tokens are generated and stored in advance before actual transactions occur. The device token is created when the mobile device is registered with the system, and the customer token is generated when the user account is set up. This preliminary generation of authentication credentials enables rapid and secure transaction processing without adding complexity during the actual transaction phase.
Solution Approach 2:
Instead of transmitting or storing sensitive authentication information in multiple formats, the system creates token copies that represent the original credentials. These token copies (device tokens and customer tokens) can be safely stored on the mobile device and transmitted during transactions without exposing the underlying sensitive information, thereby reducing fraud risk while managing implementation complexity.
Data Source
AI summary
A method includes receiving an indication from a user that a physical payment card is lost or stolen, and an indication to perform a mobile wallet transaction. The method includes accessing a database to retrieve a list of accounts held by the user, and prior to presenting a list of available source accounts, determining that a previously-provisioned source account is no longer available as a source of funds, where the list includes at least one new account that has not been previously provisioned. The method further includes generating a screen display to present to the user, the display showing the list of accounts held by the user at a financial institution. The method includes presenting the list of available source accounts to the user, receiving a user selection of the at least one new account, and transferring funds from the at least one new account to a recipient.