Intermediary Verification for Secure Cash Transactions Across Distances

Resolve Bottlenecks,
Find Innovative SolutionsGenerate Solutions

Solution Overview

Problem

In an increasingly digital world, individuals often lack access to cash for transactions due to the unavailability of ATMs or bank branches, and existing retail electronic financial transaction services are not set up to convert between electronic funds transfers and cash transfers without an underlying purchase or sale transaction, posing challenges in securely matching and reimbursing entities for cash transactions when they are not geographically proximate.

Innovation Solution

A computing system generates encryption keys and random numbers, splits them into portions, and creates matrix codes to authenticate and verify entities, ensuring secure transactions by verifying the identity and location of requestor and delivery entities, and facilitating reimbursement through an intermediary system.

Engineering Contradictions & Design Principles

VSEngineering Contradiction Analysis

1Adaptability or versatility

If cash is used for transactions, then payment flexibility is improved, but security and accessibility deteriorate when ATMs or bank branches are unavailable

Engineering Contradiction:

Improvepayment flexibilityVSAvoidtransaction security

Core Design Contradiction:

Adaptability or versatilityVSReliability

Solution Approach 1:

The patent introduces a computing system as an intermediary that coordinates between requestor and delivery entities. This intermediary generates encryption keys, verifies identities, and manages the transaction process, thereby maintaining security while enabling cash transactions outside traditional banking infrastructure.

Inventive Principle:

Principle #24Intermediary (Mediator)

Solution Approach 2:

The patent segments the encryption key into multiple portions distributed to different entities (requestor, delivery entity, and computing system). This segmentation ensures that no single entity possesses the complete key, enhancing security while allowing the transaction to proceed with distributed trust.

Inventive Principle:

Principle #1Segmentation

2Reliability

If electronic funds transfer is used, then transaction security is improved, but cash accessibility deteriorates for locations without banking infrastructure

Engineering Contradiction:

Improvetransaction securityVSAvoidcash accessibility

Core Design Contradiction:

ReliabilityVSEase of operation

Solution Approach 1:

The computing system acts as a mediator that bridges electronic and physical cash domains. It receives electronic transaction requests, verifies them through encryption and identity confirmation, then coordinates physical cash delivery, thereby combining the security of electronic transfers with the accessibility of physical cash.

Inventive Principle:

Principle #24Intermediary (Mediator)

Solution Approach 2:

The patent replaces traditional mechanical banking infrastructure (ATMs, bank branches) with a digital intermediary system that uses encryption, network communication, and automated verification to achieve the same cash access function, thereby eliminating the need for physical banking infrastructure.

Inventive Principle:

Principle #28Mechanics substitution (Replace mechanical system)

3Adaptability or versatility

If geographically distant entities transact, then service coverage is improved, but verification and authentication complexity increases

Engineering Contradiction:

Improveservice coverageVSAvoidverification complexity

Core Design Contradiction:

Adaptability or versatilityVSDevice complexity

Solution Approach 1:

The computing system serves as a centralized intermediary that handles all verification and authentication operations. Remote entities simply communicate their requests and receive confirmations through the network, while the intermediary manages the complex cryptographic operations, thereby enabling geographically distributed transactions without increasing client-side complexity.

Inventive Principle:

Principle #24Intermediary (Mediator)

Solution Approach 2:

The system implements a feedback mechanism where the computing system sends verification requests to both the requestor and delivery entity, receives their confirmations, and then coordinates the transaction. This structured feedback loop ensures proper verification of geographically distant parties while maintaining a clear, manageable process flow.

Inventive Principle:

Principle #23Feedback

Data Source

PatentUS12373828B2System and method for effecting a secure event

Publication Date: 2025.07.29 THE TORONTO DOMINION BANK

AI summary

Systems and methods for effecting secure transactions are described. A processing device, when executing computer-executable instructions: receives from a requesting entity computing system a transaction request for a payload. The transaction request is transmitted to delivery entity computing system associated with a delivery entity identifier and geographic location. An encryption key, random number and a unique request identifier are generated and transmitted to requesting and delivery entity computing systems. In response to receiving a delivery transaction confirmation from the delivery entity computing system, the processing device verifies the secure transaction. After receiving a requestor transaction confirmation from the requesting entity computing system (indicating a verified transfer of the payload), a payload reimbursement is transferred to a delivery transaction account from a requestor transaction account.