Online Transaction System Using Unique Digital Code Matching
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Solution Overview
Problem
Current financial transaction systems lack effective mechanisms to securely separate information flows between purchasers and vendors during transactions, particularly in mobile payments, risking unauthorized use and fraud.
Innovation Solution
A method where each party sends independent information packages to a payment system, with a unique one-time digital code acting as a link, ensuring secure transactions by merging transaction data and account information through distinct digital network paths, utilizing mobile devices and POS systems to generate and transmit codes.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If personal payment credentials are transmitted during mobile transactions, then transaction processing can be completed, but security risks and unauthorized use increase
Solution Approach 1:
The patent extracts personal payment credentials from the transaction flow entirely. Instead of transmitting sensitive card numbers, CVV codes, or other personal financial data, the system uses a token-based approach where only a unique transaction identifier and verification code are exchanged between the mobile device, POS system, and payment processor. This extraction of harmful elements (personal credentials) eliminates the security vulnerability while maintaining transaction functionality.
Solution Approach 2:
The patent introduces an intermediary token (unique transaction identifier) that mediates between the purchaser and vendor without exposing personal payment credentials. This intermediary element acts as a secure placeholder that carries transaction information without containing sensitive personal data, thereby protecting against unauthorized use while enabling transaction processing.
2Ease of operation
If information flows from purchaser and vendor are combined in a single transaction path, then transaction processing is simplified, but security separation and fraud prevention are compromised
Solution Approach 1:
The patent segments the information flow into distinct paths: one path carries transaction data from the POS system, while another path carries verification data from the mobile device. These segmented flows are processed independently through different system components and only merged at the final verification stage. This segmentation maintains security separation while enabling complete transaction processing through coordinated independent paths.
Data Source
AI summary
A financial transaction may include utilizing a POS system to generate a unique one-time digital code that identifies the financial transaction, forwarding the unique digital code and a store identifying code that identifies the specific POS system, generating transaction data, transmitting the transaction data, the unique digital code, the store identifying code, and account information associated with the POS system from the POS system to a payment system via a first digital network path, transmitting the unique digital code, the store identifying code, and account information associated with a user of the mobile device from the mobile device to the payment system via a second digital network path, and determining whether the unique digital code and store identifying code transmitted via the first digital network path match the unique digital code and store identifying code transmitted via the second digital network path.