Premium SMS Fund Transfer via Classification Server
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Solution Overview
Problem
Conventional systems for electronic fund transfers over the Internet face security concerns and may encourage undesirable transactions, particularly when using mobile telephones for payment, as they lack the trust and security mechanisms present in traditional credit card transactions.
Innovation Solution
A system that facilitates electronic fund transfers via premium rate mobile terminating text messages, utilizing a server connected to a network with customer and supplier browsers, where the server populates a database with customer telephone numbers and supplier classifications, allowing or prohibiting payment transmissions based on stored classifications, ensuring secure and trusted transactions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If mobile telephone text messages are used for payment, then security is improved compared to entering credit card details, but the system encourages undesirable transactions due to lack of trust mechanisms
Solution Approach 1:
The patent introduces a classification system as an intermediary mechanism between the payment request and execution. The server acts as a mediator that checks the telephone number against stored classifications before allowing premium rate message transmission, thereby blocking undesirable transactions while permitting legitimate ones.
Solution Approach 2:
The system performs preliminary classification of telephone numbers before payment transactions occur. By pre-populating the database with classifications and conducting checks in advance, the system prevents undesirable transactions before they can execute, rather than reacting after the fact.
2Ease of operation
If credit card details are entered into networked computer systems, then payment can be processed conventionally, but security concerns arise from exposing sensitive financial information
Solution Approach 1:
The patent extracts the sensitive credit card details from the payment process entirely. Instead of entering and transmitting card information, the system uses only the telephone number (which is already known to the customer) as the identifier for fund transfer, removing the security vulnerability of exposing financial data.
Solution Approach 2:
The system replaces the mechanical process of entering and transmitting credit card details with an automated message transmission process. The premium rate text messages serve as the payment mechanism, substituting the traditional card-swiping or keying-in process with a trust-based mobile communication system.
Data Source
AI summary
Apparatuses and methods to facilitate customer to supplier funds transfer via premium messages. In one aspect, an apparatus to electronically transfer funds from a customer to a supplier includes: a server component connected to a network; and a database coupled to the server component. The server component is configured to: transmit a plurality of premium rate mobile terminating text messages to the mobile cellular telephone of the customer; populate the database with an identification of the telephone number of the customer; receive classifications of offers sold by a plurality of suppliers; populate the database with a table associating the suppliers with classifications of the offers sold by the suppliers, the database including an identification of classifications for the telephone number of the customer; and determine whether to allow or prohibit transmission of text messages to effect payment based upon the identification of the classifications for the telephone number of the customer.