Secure Payment Processing via Cloud Intermediary and Geo-Locked Tokens
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Current mobile payment processing systems face challenges in securing transactions by transmitting credit card, debit card, or bank account numbers over wireless networks, which can lead to interception and interference risks between customer and merchant devices.
Innovation Solution
The system employs a unique validation token, tied to a merchant or ATM identifier, and geo-locked to the user's location, ensuring secure communication through a cloud or enterprise network, eliminating direct communication between devices and enhancing security with a token length of 3 to 6 symbols.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If credit card, debit card, or bank account numbers are transmitted over a wireless network from customer device to merchant device, then payment processing can be completed, but the risk of interception and interference increases
Solution Approach 1:
The patent introduces a cloud-based payment processing system as an intermediary between customer and merchant devices. Instead of direct peer-to-peer transmission of sensitive financial data, the cloud server acts as a mediator that receives payment information from the customer device, processes it securely, and communicates only transaction status and validation tokens to the merchant device. This eliminates the need for direct wireless transmission of card numbers between devices, thereby reducing interception risks while maintaining processing efficiency.
2Loss of time
If a unique validation token with length of 3 to 6 symbols is used, then transaction completion time is reduced and user experience is improved, but security complexity increases
Solution Approach 1:
The patent segments the security validation process into multiple components: a short validation token (3-6 symbols) for quick user input, geo-location data for contextual verification, and time-bound validation parameters. The token itself is simple and quick to enter, but it works in conjunction with other segmented security measures (location services, timestamp verification) to maintain robust security. This segmentation allows the user-facing element to remain simple while the overall system maintains high security standards.
Solution Approach 2:
The patent changes the parameter of token length from traditional long formats to short formats (3-6 symbols), and compensates for the reduced character count by introducing additional validation parameters such as geo-location coordinates and time-based expiration. This parameter transformation maintains security throughput while significantly improving user experience and transaction speed.
3Reliability
If geo-location and time-bound validation are implemented, then fraud mitigation is enhanced, but system complexity and processing requirements increase
Solution Approach 1:
The patent implements preliminary action by pre-configuring geo-location boundaries and time-validation rules in the cloud system before transactions occur. Location parameters such as acceptable radius around merchant premises and time-window constraints are established in advance. During actual transactions, the system simply compares real-time location and timestamp data against these pre-set parameters, rather than performing complex real-time analysis. This preliminary configuration reduces on-the-fly processing complexity while maintaining strong fraud prevention capabilities.
Data Source
AI summary
Exemplified systems and methods facilitate secured mobile payment transactions using credit cards, debit cards, bank account without having to transmit credit card, debit card, or bank account numbers over a wireless network. Rather, the exemplified systems and methods facilitate a highly secure and intuitive payment transaction and/or ATM cash withdrawal or transaction via two independent processes tied to a cloud or enterprise network—one performed between a customer computing device and a cloud network or enterprise network and another performed between a merchant computing device (including an ATM system) and the cloud or enterprise network. The validation token comprising a short code between 3 and 6 tokens in length is beneficially realized.