Multi-Factor Payment Verification via Direct 5G Link
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Solution Overview
Problem
Current payment verification systems rely on single-factor authentication, which are vulnerable to fraud and do not provide real-time verification, leading to potential abuse and delayed user notification of unauthorized transactions.
Innovation Solution
Implementing a system that uses multi-factor authentication, including user device authentication, passcode authentication, UPS location authentication, POS location authentication, and location match authentication, facilitated by a direct 5G communication link between the user payment system and the issuing bank system for substantially simultaneous payment verification.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If single-factor authentication is used, then the authentication process is simple and fast, but the system becomes vulnerable to fraud and lacks real-time verification capability
Solution Approach 1:
The authentication process is divided into multiple independent factors (knowledge-based passcode, possession-based device authentication, location-based verification). Each factor operates as a separate verification module that can be evaluated independently, allowing the system to achieve high security without requiring a single complex authentication mechanism.
Solution Approach 2:
Multiple authentication factors are combined into a unified verification process. The system merges device authentication, passcode verification, and location validation into a single authentication flow, where all factors must be satisfied simultaneously to approve a transaction, thereby enhancing security while maintaining a streamlined user experience.
2Loss of time
If traditional payment verification is used, then the system is simple to implement, but it causes delayed user notification and lacks real-time verification
Solution Approach 1:
The system performs authentication verification in advance and in real-time during the transaction process, rather than relying on post-transaction notifications. By completing verification before the transaction finalizes, the system eliminates delays and provides immediate feedback to both the user and merchant, while the complexity is managed through automated parallel processing of multiple verification factors.
3Reliability
If multi-factor authentication with direct 5G communication is implemented, then transaction security and real-time verification are enhanced, but the system complexity and communication requirements increase
Solution Approach 1:
A direct 5G communication link serves as an intermediary channel between the user's payment device and the verification server, enabling real-time data exchange with minimal latency. This dedicated communication pathway facilitates the rapid transmission of authentication factors and verification results, enhancing security through immediate verification while the system manages complexity through standardized communication protocols.
Data Source
AI summary
Devices, systems and processes for substantially simultaneous payment verification using multi-factor authentication are described. A system may include a user payment system (UPS), a point of sale system (POS) communicatively coupled to the user payment system, and an issuing bank system (IBK) communicatively coupled to at least the POS. The IBK system may include an IBK hardware processor configured to execute first non-transient computer executable instructions including instructions for establishing a direct connection between the IBK and the UPS. The instructions may also include those for communicating, using the direct connection, a query to the UPS, receiving a first response, from the UPS, to the query, and based, upon the first response, determining whether to approve a given transaction. The direct connection may use a 5G wireless link. The query may be communicated to substantially simultaneously with receipt of a request to approve the given transaction.