Remote Payment Authorization via Multi-Device Verification
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Solution Overview
Problem
Current payment transaction systems face inefficiencies and security risks when individuals use accounts not issued to them, leading to potential fraudulent transactions and increased processing times due to the need for additional verification and resource-intensive fraud analysis.
Innovation Solution
A computer-implemented method for remote authorization that involves transmitting a payment request message to multiple mobile devices, including primary and backup authorizing users, to verify and authorize transactions within set time periods, reducing the need for additional verification and minimizing fraudulent transaction analysis.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If additional verification communication is performed to detect suspicious activity, then account security is improved, but transaction processing time increases
Solution Approach 1:
The system performs preliminary actions by establishing authorized user relationships and communication channels before transactions occur. When a transaction is initiated, the system can immediately contact pre-authorized users through established channels without requiring additional verification steps, thus maintaining security while reducing processing time.
Solution Approach 2:
Authorized users are empowered to self-service by directly confirming or denying transactions through their mobile devices. This eliminates the need for manual verification by customer service representatives, reducing processing time while maintaining security through direct authorization from account holders.
2Measurement precision
If fraud analysis resources are increased to determine transaction legitimacy, then detection accuracy is improved, but system resource consumption increases
Solution Approach 1:
The system performs preliminary fraud prevention by establishing relationships between users and authorized devices before transactions occur. This preliminary setup allows the system to quickly verify transaction legitimacy by checking against pre-established authorization data, reducing the need for resource-intensive real-time fraud analysis while maintaining high detection accuracy.
3Reliability
If multiple verification steps are performed to prevent unauthorized transactions, then transaction security is improved, but processing efficiency decreases
Solution Approach 1:
The system performs preliminary verification by establishing authorized user relationships and communication channels before transactions occur. This allows subsequent transactions to be verified through simple confirmation steps rather than multiple verification procedures, maintaining security while improving processing efficiency.
Solution Approach 2:
The system extracts the essential verification element (user authorization) from the transaction process and handles it separately through mobile device communication. This separates the security verification function from the main transaction processing flow, allowing efficient processing while maintaining robust security checks.
Data Source
AI summary
Provided are computer-implemented methods for event-based communication and messaging that may include receiving transaction data for a transaction from a mobile device controlled by a requesting user, generating a payment request message based on the transaction data, transmitting the payment request message to a first plurality of mobile devices, and determining if at least one payment response message is received from at least one mobile device of the first plurality of mobile devices within a first time period. In some non-limiting embodiments or aspects, the methods may further include transmitting the payment request message to a second plurality of mobile devices, receiving a payment response message including an indication that the transaction is authorized, and processing the transaction using a payment account associated with the mobile device that transmitted the payment response message. Systems and computer program products are also provided.