QR-Based Remote Cash Transfer With Recipient Image Verification
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Solution Overview
Problem
Users need to transfer money to recipients without being proximate and incur fees using third-party services.
Innovation Solution
A system and method allowing a user to pre-authorize an intended recipient to withdraw money from their account remotely by generating a QR code with account details and ID data, which is verified at a distant location using image analysis.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If a user withdraws money physically from an ATM or bank branch to provide to a recipient, then the recipient receives money, but the user must be located proximate to the recipient
Solution Approach 1:
The patent introduces an automated teller machine as an intermediary that enables the recipient to directly withdraw money from the user's account without the user's physical presence. The ATM acts as a mediator between the user's account and the recipient, allowing remote money provision while maintaining account security through authorized access mechanisms.
Solution Approach 2:
The patent segments the money transfer process into separate functions: the user authorizes the transfer remotely, the system generates access credentials (QR code with credentials), and the recipient executes the withdrawal at an ATM. This segmentation allows the user to complete the authorization phase from any location while the actual money dispensing occurs at a remote ATM location.
2Loss of information
If a user wires money to a recipient using third-party services, then money is transferred remotely, but fees are incurred
Solution Approach 1:
The patent enables the recipient to directly access and withdraw money from the user's account through an ATM using generated credentials, eliminating the need for third-party wire transfer services. This self-service approach allows the recipient to obtain funds directly from the source account without intermediary fees, as the system itself provides the remote access mechanism.
Solution Approach 2:
The patent uses an automated system as an intermediary that generates secure credentials (QR code containing account credentials) enabling direct account access. This intermediary mechanism replaces expensive third-party wire services with an automated credential-based access system that facilitates fee-free remote money transfer.
3Ease of operation
If a user allows direct account access to a recipient, then remote withdrawal is enabled, but account security is compromised
Solution Approach 1:
The patent implements preliminary authorization where the user explicitly approves the recipient's access request before any credentials are generated. The system performs preliminary verification of the recipient's identity and account details, and only after user confirmation does it generate the QR code with credentials. This preliminary action ensures security is maintained while enabling remote access.
Solution Approach 2:
The patent incorporates feedback mechanisms where the user receives notifications about withdrawal requests and can approve or deny them. The system provides feedback loops that allow the user to monitor and control account access in real-time, maintaining security through continuous user oversight and confirmation of each withdrawal transaction.
Data Source
AI summary
Various examples described herein are directed to systems and methods that provide a pre-authorized amount from a user to an intended recipient that is remote from the user. A quick response (QR) code provided from a recipient is read. The QR code includes the pre-authorized amount to be withdrawn from an account associated the user and image data associated with the intended recipient. Image data associated with the recipient is captured. Image analysis is performed on the captured image data associated with the recipient. The analyzed captured image data associated with the recipient is compared with the image data associated with the intended recipient. A determination is then made if the recipient is the intended recipient based on the comparison. When the recipient is the intended recipient, the pre-authorized amount is provided to the recipient from the account associated with the user.