NFC Mobile Currency Transfer With Proximity-Verified Authentication
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Solution Overview
Problem
Sending funds between accounts using NFC mobile devices is challenging due to security vulnerabilities and the risk of incorrect transactions, often requiring an internet connection and prone to malicious attacks.
Innovation Solution
A system utilizing NFC-enabled mobile devices and contactless cards with key diversification techniques, including a master key and counter-based encryption, ensures secure transactions by verifying user proximity and authenticating payment requests through a server.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If NFC contactless card data is used for mobile currency transfer, then transfer speed and convenience are improved, but security vulnerabilities increase due to potential malicious reading of account data
Solution Approach 1:
The patent extracts only the necessary authentication data (account number, balance, PIN) from the contactless card via NFC, processes it through secure elements with cryptographic verification, and excludes all other card data from being transmitted or stored on the mobile device. This selective extraction maintains security while enabling fast transfers.
Solution Approach 2:
The patent introduces a secure element as an intermediary between the contactless card and the mobile device processor. This secure element performs cryptographic verification of card data before it leaves the device, acting as a trusted mediator that ensures security while maintaining the speed of NFC communication.
2Measurement precision
If comprehensive account information is collected for transfer processing, then transfer accuracy is improved, but error rate increases due to user input mistakes
Solution Approach 1:
The patent enables the system to automatically retrieve and verify account information (account number, balance, routing details) directly from the contactless card's secure memory via NFC, eliminating the need for manual user input. The card itself serves the information retrieval function, reducing human error while maintaining accuracy.
Solution Approach 2:
The patent replaces the mechanical process of manual data entry with automated NFC-based data extraction and cryptographic verification. The mobile device automatically reads, validates, and processes card data through secure elements, substituting human typing and verification with machine-based automated processes that eliminate input errors.
3Reliability
If Internet connection is required for currency transfer, then security is improved through server verification, but transfer speed decreases due to network dependency
Solution Approach 1:
The patent performs cryptographic verification and security validation in advance during the NFC card reading process, before the actual transfer request is sent to the server. The secure element pre-validators card authenticity and generates secure tokens, so that when the transfer request reaches the server, verification can proceed quickly without requiring extensive real-time network validation.
Data Source
AI summary
Various embodiments are generally directed to NFC-based mobile currency transfers. A mobile payment may be programmatically initialized when at least two mobile devices come into NFC communications range. A payment card associated with an account used to fund the currency transfer may be tapped to one or more of the devices to allow a server to validate the currency transfer.