Representative Electronic Card for Secure Payment Processing
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Solution Overview
Problem
Existing payment card systems expose actual card information, leading to security risks and inconvenience, particularly due to the need for separate systems to generate disposable virtual cards, which increase costs and complexity.
Innovation Solution
A payment service method and system using a representative electronic card that can be activated through a user terminal application, allowing for secure online/offline payments by representing multiple payment tools, selecting the appropriate tool based on location or user preference, and authenticating transactions with a one-time password (OTP).
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If actual card information is provided to affiliate store for payment processing, then payment transaction can be approved, but personal card information security is compromised
Solution Approach 1:
The patent uses virtual card information as a copy of actual card information. The virtual card contains card number, valid institution, and card issuer that mirror the real card data, allowing payment processing to proceed with the virtual copy while the actual sensitive information remains protected and never exposed to the affiliate store.
Solution Approach 2:
The patent introduces a card company as an intermediary between the user and the affiliate store. The card company generates and manages virtual card information, acting as a mediator that enables payment processing without directly exposing the user's actual card information to the affiliate store.
2Ease of operation
If card number and expiry date are repeatedly used for multiple transactions, then payment convenience is maintained, but security vulnerabilities increase due to hacking risks
Solution Approach 1:
The patent implements dynamic virtual card information that changes for each transaction. Instead of static card details that are repeatedly used, the system generates new virtual card numbers and expiry dates for each payment transaction, making the payment data dynamic and time-sensitive to prevent hacking and replay attacks.
Solution Approach 2:
The patent creates disposable virtual card information that is valid for a single transaction only. Each virtual card is generated temporarily, used once for payment processing, and then becomes invalid, eliminating the security risks associated with repeatedly using the same card details across multiple transactions.
3Object-affected harmful factors
If a separate system is introduced to generate one-time virtual cards, then card information security is improved, but system complexity and construction costs increase
Solution Approach 1:
The patent makes the existing card company system multi-functional by enabling it to generate and manage virtual card information in addition to its traditional card issuance functions. This eliminates the need for a completely separate virtual card generation system, as the existing card company infrastructure is extended to handle virtual card creation and management.
Solution Approach 2:
The patent merges the virtual card generation function with the existing card company system. Instead of creating a separate standalone system for virtual card generation, the patent integrates this functionality into the existing card issuance and management infrastructure, combining multiple functions into a unified system.
4Object-affected harmful factors
If one-time virtual cards are generated for each payment, then information security is enhanced, but payment speed decreases and procedure becomes complex
Solution Approach 1:
The patent performs preliminary generation of virtual card information before the actual payment transaction occurs. The card company generates the virtual card details in advance as part of the payment authorization process, so that when the payment is executed, the virtual card information is already ready and available, eliminating delays during the actual transaction.
Solution Approach 2:
The system enables automated generation and management of virtual card information without requiring manual user intervention. The card company's system automatically creates, manages, and invalidates virtual card details throughout the payment process, making the security-enhancing virtual card mechanism transparent and effortless for the user.
Data Source
AI summary
Provided are a method, system, and computer-readable medium for a payment service using a card of an integrated function. A payment service method may include registering a representative card that represents payment tools of a user, the representative card being an electronic card configured to be activated through an application installed in a terminal of the user; activating a payment function of the representative card through the application, the application being associated with a payment service installed in the terminal of the user; setting at least one specific payment tool to be represented by the representative card among the payment tools; and processing a payment using the specific payment tool set in the representative card, in response to a payment request using the representative card.