Cryptographic Transaction System Using Segmented Key Encryption
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Solution Overview
Problem
In e-commerce transactions, user payment information is vulnerable to fraud as it is shared between multiple points in the system, including the merchant's website and payment gateway, lacking secure transmission and verification mechanisms.
Innovation Solution
A cryptographic system using keyed PV signatures is implemented, where a message for financial transactions is divided into portions, encrypted with specific public keys, and verified by intended parties, ensuring confidentiality and non-repudiation, allowing only specific parties to decrypt and verify transaction details.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Productivity
If user payment information is shared between merchant's website and payment gateway, then transaction processing can be completed, but the information becomes vulnerable to fraud and security breaches
Solution Approach 1:
The payment information is segmented into multiple portions, where each portion is encrypted with a different public key. The first portion is encrypted with the merchant's public key and can only be decrypted by the merchant, while the second portion is encrypted with the payment gateway's public key and can only be decrypted by the payment gateway. This segmentation ensures that no single party has access to the complete unencrypted payment information, thereby preventing fraud while maintaining transaction processing efficiency.
2Adaptability or versatility
If payment information is transmitted through multiple parties, then the transaction can be processed, but the potential for fraud increases at each transmission point
Solution Approach 1:
Different portions of the payment information are assigned different security qualities based on their intended recipients. The first portion has the quality of being decryptable only by the merchant, while the second portion has the quality of being decryptable only by the payment gateway. This local quality differentiation ensures that each party can only access the information necessary for their specific function, reducing fraud risk while maintaining system flexibility.
3Loss of information
If all parties have access to payment information for verification, then transaction transparency is improved, but security and confidentiality are compromised
Solution Approach 1:
The confidential payment information is extracted from the general transaction data and placed in a separate encrypted portion that is only accessible to the payment gateway. This extraction allows the merchant to verify the transaction's authenticity through the digital signature without having access to the actual payment details, thereby maintaining both transparency for verification purposes and security for sensitive information.
Data Source
AI summary
A method of securely communicating a message for a financial transaction from a first correspondent to one or more recipients. The method comprises dividing the message into at least two portions. Each portion is intended for a recipient. Each portion intended for receipt by one of the recipients is encrypted with that recipient's public key. The message is signed and transmitted to one of the recipients to enable the recipient to verify the message and further transmit the message to a further recipient.