Secondary Verification via NFC Code Matching
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Solution Overview
Problem
Credit card fraud remains a significant issue despite technological advancements, with common forms including lost, stolen, and counterfeit cards, as well as fraudulent uses of credit card numbers.
Innovation Solution
Implementing a secondary verification system using near field communication (NFC) devices, where a verification code from an NFC device is required to match the account code stored in a computing device's memory to authorize transactions, enhancing security by ensuring the user is authorized to charge amounts on the payment instrument.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If traditional credit card verification methods are used, then transaction processing is simple and fast, but security against fraud is insufficient
Solution Approach 1:
The verification system is segmented into multiple independent components: the computing device stores account codes, the NFC device stores verification codes, and the transaction point collects both. This segmentation ensures that even if one component is compromised, the other remains secure, thereby improving transaction security without requiring a completely complex new system.
Solution Approach 2:
The NFC device acts as an intermediary that bridges the account verification process. It stores verification codes separately from the account codes and provides them during transactions. This intermediary layer adds security by ensuring that the verification code must be present and match the account code, while maintaining relatively simple integration with existing payment systems.
2Reliability
If additional verification steps are added to prevent fraud, then security improves, but transaction processing time increases
Solution Approach 1:
The verification code is pre-loaded into the NFC device before the transaction occurs. This preliminary action means that during the actual transaction, no additional time is required to generate or retrieve the verification code - it is already available in the NFC device, ready to be collected and verified immediately, thus preventing fraud without adding processing time.
Solution Approach 2:
The system uses code copying where the verification code is copied from the secure storage in the NFC device to the transaction processing system. This copying mechanism is extremely fast and requires no additional user interaction beyond the initial setup, thereby maintaining quick transaction processing while adding a layer of fraud prevention through code matching.
3Reliability
If verification codes are stored separately from account codes, then security against counterfeit cards improves, but system complexity increases
Solution Approach 1:
The storage system is segmented into two separate locations: account codes are stored in the computing device while verification codes are stored in the NFC device. This segmentation prevents counterfeit card attacks because both the account code and verification code must be present and match for a transaction to succeed, while the segmentation itself is implemented through standard hardware components rather than complex systems.
Solution Approach 2:
The NFC device, while primarily designed for near-field communication, is given the additional function of storing and providing verification codes. This multi-functionality approach allows the system to achieve enhanced security through separate code storage without adding dedicated complex storage hardware, as the NFC device already exists as a universal component in modern payment systems.
Data Source
AI summary
Disclosed are various embodiments for implementing secondary verification of user accounts through the use of near field communication devices. A first account code and first verification code are stored in a memory accessible to a computing device, wherein the first account code is associated with a payment instrument. A second account code is received in a charge request from a transaction client. A second verification code is further obtained from a client device. A determination is made as to whether to approve charging of an account based at least on whether the second verification code received in the computing device matches the first verification code.