Payment Credential Provisioning for Fast Direct Transaction Authorization
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Solution Overview
Problem
Existing mobile payment systems often require multiple interactions with the issuer bank, limiting transaction speed and flexibility, and lack seamless integration with personalized financial products.
Innovation Solution
A service provider server provisions payment credentials and authorizes transactions directly, enabling end-to-end control over the payment experience, allowing for more integrated and personalized financial services.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If multiple interactions with the issuer bank are required for mobile payment transactions, then transaction security and validation are improved, but transaction speed and flexibility deteriorate
Solution Approach 1:
The patent segments the transaction authorization process into two distinct phases: (1) credential provisioning phase where the issuer bank validates the user and provisions credentials to the service provider, and (2) transaction phase where the service provider directly authorizes transactions using provisioned credentials without contacting the issuer bank. This segmentation allows security validation to occur upfront while enabling fast direct authorization thereafter, resolving the contradiction between security and speed.
Solution Approach 2:
The patent implements preliminary action by requiring the issuer bank to validate user credentials and provision payment credentials to the service provider before any transactions occur. This preliminary validation and credential provisioning eliminates the need for repeated interactions with the issuer bank during subsequent transactions, thereby maintaining security while significantly improving transaction speed and flexibility.
2Reliability
If multiple interactions with the issuer bank are required, then transaction validation is improved, but flexibility in payment experiences deteriorates
Solution Approach 1:
The patent segments the system into distinct functional components: the issuer bank handles credential validation and provisioning, while the service provider handles transaction authorization and payment experience delivery. This segmentation allows the service provider to offer flexible and personalized payment experiences using provisioned credentials without being constrained by the issuer bank's rigid validation processes, thus resolving the contradiction between validation reliability and experience flexibility.
Solution Approach 2:
The service provider acts as an intermediary between the issuer bank and the user, receiving provisioned credentials from the issuer bank and using them to authorize transactions and deliver personalized payment experiences. This intermediary role allows the service provider to translate the issuer bank's validated credentials into flexible, user-friendly payment solutions, resolving the contradiction between validation reliability and experience flexibility.
3Extent of automation
If the issuer bank controls the entire transaction process, then centralized control is improved, but integration with personalized financial products deteriorates
Solution Approach 1:
The patent segments the control functions by allowing the issuer bank to maintain centralized control over credential issuance and validation, while delegating transaction authorization and payment experience delivery to the service provider. This segmentation enables the service provider to integrate personalized financial products and services using the provisioned credentials, resolving the contradiction between centralized control and product integration flexibility.
Data Source
AI summary
The subject system may be implemented by a processor circuit configured to receive a payment credential request from a user device, wherein the payment credential request comprises a requested amount and indicates a product type, provision, in response to the payment credential request and based at least in part on the product type, a payment credential and a payment account corresponding to the payment credential, wherein the payment account is associated with a balance corresponding to the requested amount, receive, from a merchant system, an indication of an authorization amount and the payment credential, authorize, based at least in part on the balance associated with the payment account, payment of the authorization amount to the merchant system, in response to receiving the indication, and update the balance associated with the payment account based at least in part on the authorization amount, in response to authorizing the payment.