Multi-Factor Authentication System Using Trusted Execution Environment
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Solution Overview
Problem
Consumers and service providers face increased risks of credit card fraud and cryptocurrency key theft due to the prevalence of skimmers and the insecure storage of credit card data in plain text on mobile devices.
Innovation Solution
A multi-factor authentication system comprising a mobile device and a multi-factor authentication device that communicate via Bluetooth, utilizing a trusted execution environment to securely store private keys and separate them from public keys, ensuring that private keys are not transmitted outside the encrypted zone, and employing cryptographic processing for secure payment and transaction verification.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If credit card data is stored in plain text on mobile devices for ease of access, then ease of operation is improved, but security is worsened due to increased risk of theft and fraud
Solution Approach 1:
The system segments sensitive data into multiple components stored in different locations: public keys are stored on the mobile device while private keys are stored in a secure element or hardware security module. This segmentation ensures that even if one component is compromised, the complete security cannot be breached, thus maintaining security while allowing operational access.
Solution Approach 2:
The patent introduces an intermediary secure element or hardware security module that acts as a mediator between the mobile device and external systems. This intermediary securely stores private keys and performs cryptographic operations without exposing the keys to the main device memory or transmission channels, thereby maintaining both security and operational functionality.
2Ease of operation
If private keys are transmitted during transactions for authentication, then ease of operation is improved, but security is worsened due to potential exposure and interception
Solution Approach 1:
The system extracts the private key from the transmission process entirely. Instead of transmitting the private key during transactions, the patent uses the private key locally within a secure element to sign or authenticate transactions. Only the authentication result or encrypted data is transmitted, not the key itself, thus enabling transaction processing without key exposure risk.
Solution Approach 2:
The patent replaces the mechanical approach of transmitting keys with a cryptographic substitution approach. Rather than sending the private key for authentication, the system uses public key infrastructure where the private key remains stationary in a secure element and performs cryptographic operations locally, substituting key transmission with secure cryptographic verification.
Data Source
AI summary
Technologies for securely processing payment transactions include a mobile device configured to generate a secure payment transaction request message for a payment transaction. The request message includes a public key address derived from a public key of a public/private key pair. A multi-factor device receives the request message and generates a reference public key address as a function of the corresponding private key of the public/private key pair. The multi-factor device determines whether the public key address included in the received request message matches the generated reference public key address. The multi-factor device generates and transmits a response message to the mobile device including status indicator data based on the determination whether the received public key address matches the generated reference public key address. The mobile device processes or blocks the payment transaction as a function of the status indictor data. Other embodiments are described and claimed.