NFC Payment Applet Assignment With Virtual Identifier Selection
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Existing systems do not allow for displaying and selecting methods of payment for transactions using contactless cards and mobile devices.
Innovation Solution
A method and system that enables the use of contactless cards and mobile applications to select and execute transactions by generating a user interface displaying financial accounts, allowing users to choose a specific account for payment through near-field communication (NFC) exchanges, using virtual identifiers to secure and authenticate transactions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If tap-to-pay transactions are implemented using RFID technology, then payment convenience is improved, but the ability to display and select multiple methods of payment is lost
Solution Approach 1:
The patent segments the payment functionality by separating the contactless card into two roles: (1) a credential provider that supplies account identifiers, and (2) a display device that presents multiple payment method options to the user. This segmentation allows the system to maintain simple tap-to-pay operation while enabling selection among multiple payment methods, as the card itself becomes both the tap target and the information display medium.
2Reliability
If virtual identifiers are generated for transaction security, then transaction security is improved, but system complexity increases
Solution Approach 1:
The contactless card autonomously generates virtual identifiers (tokenized account numbers) without requiring external processing or complex backend systems. The card's embedded processor creates these secure identifiers locally during the NFC exchange, eliminating the need for additional security hardware or complex server-side tokenization infrastructure. This self-service approach enhances transaction security while minimizing system complexity.
Applied Scientific Principles
This section explains which scientific principles are used to turn an abstract innovation direction into a practical engineering solution.
Function Achieved in This Case
Enables secure selection and execution of transactions using specific financial accounts, preserving sensitive information through the use of virtual account numbers and authentication mechanisms, enhancing transaction security and flexibility.
Implementation Method 1
executing a near-field communication (NFC) exchange between the contactless card and at least one processor upon the contactless card being detected by at least one processor to be located within a predetermined distance of at least one processor
Data Source
AI summary
A method, a system, and a computer program product for using contactless cards and mobile applications for selecting and using methods of payment for transactions. An identifier associated with a transaction is received. The transaction is configured to be executed using at least one computing device. One or more virtual identifiers are generated using the received identifier. At least one virtual identifier is selected and assigned to the transaction. Execution of the transaction is triggered by the computing device using the assigned virtual identifier.