Remote Payment Request Authentication for Fast Payor Approval
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Individuals lacking financial means or authority struggle with peer-to-peer (P2P) transactions, leading to cumbersome and ineffective workarounds, and there is a need for a seamless way for users to request payment assistance and verify legitimacy securely and promptly.
Innovation Solution
A communication flow between user devices and network devices supports distinct roles for initiator, payor, and payee, with an electronic device that includes an input device, output device, memory, and a communications subsystem to facilitate and expedite remote payor approval by automatically generating a payment request, verifying user authentication, and transmitting a verified payment request.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If manual payment request verification is used, then users can approve payments, but the process is time-consuming and prone to errors
Solution Approach 1:
The patent introduces an intermediary authentication mechanism that automatically verifies payment requests using pre-shared credentials between devices. This intermediary verification layer eliminates manual review while maintaining security, thereby speeding up the payment approval process without sacrificing reliability.
Solution Approach 2:
The system performs preliminary authentication by pre-configuring trusted device credentials and authentication methods before payment requests are made. This preliminary setup enables automatic verification of payment requests without requiring real-time manual approval, thus improving processing speed while maintaining security standards.
2Adaptability or versatility
If automated payment requests are sent to multiple payors, then payment assistance can be obtained, but fraudulent requests may be approved
Solution Approach 1:
The patent employs an intermediary authentication system that automatically verifies the legitimacy of payment requests through pre-configured trusted device credentials. This intermediary verification mechanism ensures that only authentic requests from authorized initiators are processed, preventing fraudulent approvals while maintaining the flexibility to send requests to multiple payors.
Solution Approach 2:
The system implements feedback mechanisms where payment requests include authentication tokens and verification data that allow payors to automatically verify legitimacy. This feedback loop ensures that even when requests are automatically distributed to multiple payors, each recipient can independently verify the request's authenticity, thus maintaining reliability.
3Adaptability or versatility
If users without financial authority initiate payments, then P2P transactions become more inclusive, but authentication verification becomes complex
Solution Approach 1:
The patent enables users without financial authority to initiate payments through a self-service authentication mechanism. The system automatically manages credential verification and payor selection without requiring complex manual authentication processes. This self-service approach maintains inclusivity while simplifying the user experience despite the underlying complexity of the authentication system.
Solution Approach 2:
The patent introduces an intermediary authentication layer that automatically handles the complex verification processes. This intermediary system manages credential validation, payor authorization, and request routing, thereby enabling inclusive participation for users without financial authority while shielding them from the complexity of the underlying authentication mechanisms.
4Reliability
If payment requests require manual approval, then fraudulent requests can be identified, but legitimate requests may be rejected or delayed
Solution Approach 1:
The patent introduces an intermediary automated authentication system that verifies payment requests using pre-configured trusted device credentials. This intermediary verification maintains high reliability in identifying fraudulent requests while eliminating manual approval delays, thus improving payment processing efficiency without sacrificing fraud detection accuracy.
Solution Approach 2:
The system performs preliminary authentication and legitimacy verification before payment requests are processed. By pre-configuring trusted credentials and automatically verifying requests against these credentials, the system maintains high fraud detection accuracy while eliminating the delays associated with manual approval processes, thereby improving overall processing efficiency.
Data Source
AI summary
An electronic device, a method, and a computer program product facilitate and expedite remote payor approval of a payment request by an initiator at a payee point of sale. A controller of the electronic device receives, via input device(s), a payment code for providing payment to a payee. In response, controller automatically initiates generation of a payment request including the payment code for communicating to a payor device: Controller prompts for entry of a user authentication input to confirm the payment request as originating from a known/trusted payment requester within a group. Controller verifies a received user authentication input and transmits, via the communications subsystem, a verified payment request to the first payor device. The verified payment request includes metadata that confirms that the payment request is an authentic request originating from the known/trusted payment requester and triggers an output of the authentic payment request by the payor device.