Multi-Network Tokenization for Secure Payment Processing
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Solution Overview
Problem
Existing systems fail to securely manage and process tokenized data across multiple networks, particularly in the payment industry, where customers are reluctant to share bank account information due to concerns about unauthorized transactions and data privacy.
Innovation Solution
A multi-network tokenization system generates tokens that resemble bank account identifiers but are linked to actual payment accounts, allowing secure processing across different networks while maintaining customer privacy by translating these tokens into actual account identifiers for authorization and payment processing.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If a customer provides their actual bank account identifier to a merchant for recurring payments, then the merchant can process payments directly, but the customer loses control over payments and exposes sensitive financial information
Solution Approach 1:
The patent introduces a token as an intermediary between the customer's bank account and the merchant. The token contains encrypted or hashed account information that allows payment processing while preventing the merchant from accessing the actual bank account identifier. This mediator approach enables payment functionality while protecting customer data privacy.
Solution Approach 2:
The patent creates a copy of the bank account identifier in the form of a token. This token copy contains sufficient information to process payments (encrypted account number, routing number) but is deliberately designed to be unusable for unauthorized transactions or data theft. The merchant works with the token copy rather than the original sensitive data.
2Adaptability or versatility
If different networks use different protocols for data processing, then each network can optimize for its specific requirements, but tokenized data from one network is not recognized by another network
Solution Approach 1:
The patent designs the token structure to be universally compatible across multiple payment networks. The token incorporates standardized fields (tokenized account number, routing number, network identifier) that can be interpreted by different networks. This universal structure allows the same token to function across multiple networks with different protocols, eliminating the need for network-specific token formats.
Solution Approach 2:
The patent segments the token into distinct functional components: network identifier, tokenized account information, and validation data. This segmentation allows each component to be independently processed according to network-specific requirements while maintaining overall token compatibility. The modular structure enables networks to process only the relevant segments according to their protocols.
3Reliability
If a system implements comprehensive rules-based control for token transactions, then customer control and security are enhanced, but the system complexity and processing overhead increase
Solution Approach 1:
The patent implements preliminary action by establishing rules sets in advance that govern token transaction behavior. These rules are configured beforehand to automatically enforce customer preferences, spending limits, and authorization requirements. By pre-configuring the rules rather than making real-time decisions, the system reduces processing overhead while maintaining comprehensive control and security.
Data Source
AI summary
A computing system for electronically managing a token across multiple computer networks is described. The computing system includes a processor in communication with at least one memory device. The processor is programmed to generate a token associated with a payment account, the token having a format that simulates a format of a checking account identifier, and receive a payment request including the token, the payment request processed over a first network. The processor is also programmed to apply a set of rules to the payment request, determine that the payment request satisfies the set of rules, and convert the token into a payment account identifier using the set of rules. The processor is further programmed to transmit an authorization request message to a second network, receive authorization of the authorization request message from the second network, and provide authorization of the payment request to the first network.