Smart Card Encryption Circuit for Secure Online Transactions
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Solution Overview
Problem
The increasing rate of credit card fraud and identity theft in internet transactions, particularly due to the vulnerability of credit card information transmitted over the internet, poses a significant challenge in ensuring secure financial transactions.
Innovation Solution
A payment card with an integrated electronic circuit configured to hold identification information, which can be coupled to a reader or a computing device, generates and uses a dedicated encryption key for encrypting and transmitting data securely to a remote point of sale, with an authentication server verifying the transaction to prevent unauthorized access.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If credit card information is transmitted over the internet, then convenience of online transactions is improved, but security against fraud and identity theft deteriorates
Solution Approach 1:
The patent introduces a smart card as an intermediary device between the user and the transaction system. The smart card contains an electronic circuit with encryption capabilities and stores identification information securely. Instead of directly transmitting credit card information over the internet, the system uses the smart card as a mediator that encrypts data locally and transmits only encrypted information, thereby maintaining convenience while enhancing security.
2Ease of operation
If magnetic stripe cards are used, then ease of use is improved, but security against copying deteriorates
Solution Approach 1:
The patent transitions from magnetic stripe technology to smart card technology with electronic circuits. This parameter change involves moving from simple magnetic encoding to complex encryption algorithms implemented in electronic circuits. The smart card generates encryption keys and encrypts identification information, making the data inaccessible to copying attempts while maintaining ease of use through contactless or contact-based reading devices.
3Reliability
If encryption keys are generated for each transaction, then security is improved, but processing time increases
Solution Approach 1:
The patent implements preliminary action by generating encryption keys in advance of actual transactions. The system can pre-generate encryption keys and store them securely in the smart card's electronic circuit before they are needed for transactions. This allows the card to be ready for immediate use without requiring key generation during the transaction process, thereby maintaining high security while minimizing processing time delays.
Data Source
AI summary
In some embodiments a secure card is disclosed with a body; and, a plurality of contacts. The contact may be in communication with storage media in the body of the card. The storage media may store identification information for the secure card. The plurality of contacts are optionally disposed proximate to an edge of the body. Optionally the contacts are rounded and/or spaced apart from each other to avoid short circuits when the secure card is placed in a connector. Some embodiments include a connector having interface elements corresponding to each of the card contacts. For example, the connector may connect between the contacts and a computer port. Optionally the card includes an integrated circuit in communication with said storage media and configured for communication in accordance with a standard computer port communication protocol with each of contacts corresponding to a contact of the protocol.