Separate Authentication App for Digital Wallet Security
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Solution Overview
Problem
Conventional digital wallet providers rely on single-factor authentication, which may not be sufficient for secure payment transactions, especially when linking to multiple payment sources and merchants, posing security risks.
Innovation Solution
Implementing a separate authentication application on a computing device that is distinct from the wallet application, allowing for multi-factor authentication and tokenization to enhance transaction security, enabling the use of payment tokens instead of real account numbers for secure transactions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If single-factor authentication is used in digital wallets, then ease of operation is improved, but security is worsened
Solution Approach 1:
The authentication system is segmented into multiple independent factors (knowledge-based credentials, possession-based tokens, biometric data) that work together to provide comprehensive security. Each factor operates independently but contributes to the overall authentication decision, allowing the system to maintain ease of operation for each individual factor while achieving high security through their combination.
Solution Approach 2:
The authentication mechanism uses a composite approach by combining multiple authentication factors (something you know, something you have, something you are) into a unified authentication system. This composite structure allows the system to leverage the strengths of each individual factor while mitigating their individual weaknesses, achieving both usability and security.
2Adaptability or versatility
If multiple payment sources are linked in a digital wallet, then adaptability is improved, but security risk is worsened
Solution Approach 1:
The system introduces an intermediary authentication layer between the user and multiple payment sources. This intermediary mechanism (separate authentication application) mediates access to all linked payment sources, requiring independent authentication for each transaction regardless of which payment source is accessed. This prevents unauthorized access while maintaining the ability to link multiple payment sources for adaptability.
Solution Approach 2:
The authentication system dynamically adapts its requirements based on the transaction context, payment source being accessed, and risk assessment. The system can adjust authentication factors and verification levels in real-time, allowing flexible integration of multiple payment sources while maintaining appropriate security controls for each specific transaction scenario.
3Ease of operation
If standard credentials are used for wallet authentication, then ease of operation is improved, but authentication strength is worsened
Solution Approach 1:
The authentication system is designed to be universal by accepting multiple types of authentication factors (passwords, tokens, biometrics) through a single unified interface. The separate authentication application provides a universal authentication mechanism that works across different payment sources and transaction types, maintaining ease of operation while enabling strong multi-factor authentication when needed.
Data Source
AI summary
Embodiments of the invention are directed to systems and methods that enable authentication of a user via an authentication application that is different than a wallet application that is being used to process a transaction. The wallet application may contain payment devices and/additional wallet applications.