Smart Ring NFC Authentication for Secure Contactless Payments
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Solution Overview
Problem
NFC-enabled devices for electronic financial transactions are vulnerable to theft and hacking, leading to hesitation in usage and merchant reluctance due to concerns over transaction legitimacy.
Innovation Solution
A wearable smart ring device with NFC or RFID sensors, paired with a mobile device, undergoes a one-time authentication interaction, allowing secure and continuous use for electronic financial transactions until removed from the user's finger, minimizing repeated authorization requests and protecting against unauthorized use.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If NFC-enabled devices are used for electronic financial transactions, then convenience and contactless payment capability are improved, but security vulnerability to theft and hacking increases
Solution Approach 1:
The system segments the authentication process into multiple independent components: biometric authentication (fingerprint, facial recognition), device authentication, and transaction authorization. This segmentation ensures that compromise of one component does not necessarily lead to complete system failure, thereby maintaining security while preserving convenience.
Solution Approach 2:
The patent introduces an intermediary authentication server that mediates between the user's device and the payment system. This server verifies biometric data and authentication tokens, acting as a secure intermediary that enhances security without compromising the contactless convenience of NFC transactions.
2Productivity
If authentication information is stored on NFC-enabled devices, then transaction speed is improved, but risk of information theft increases
Solution Approach 1:
The patent extracts sensitive authentication information from the NFC device itself and stores it securely in biometric authentication data on the user's device. The NFC device only contains authentication tokens that are useless without the corresponding biometric verification, thereby enabling fast transactions while removing the risk of information theft from the NFC device.
Solution Approach 2:
The system performs preliminary biometric authentication and generates authentication tokens before the actual NFC transaction occurs. This preliminary action ensures that only authenticated users can initiate transactions, maintaining speed while preventing unauthorized access to transaction capabilities.
3Ease of operation
If merchants accept NFC transactions without verification, then customer convenience is improved, but merchant risk of illegitimate transactions increases
Solution Approach 1:
The authentication server performs preliminary verification of transaction legitimacy before authorizing the NFC payment. This preliminary action provides merchants with confidence that transactions are legitimate without requiring them to perform complex verification procedures, thus maintaining convenience while reducing risk.
Solution Approach 2:
The system implements feedback mechanisms where the authentication server provides verification status and transaction legitimacy information back to both the user's device and the merchant's terminal. This feedback enables merchants to accept NFC transactions with verified legitimacy while maintaining operational simplicity.
Applied Scientific Principles
This section explains which scientific principles are used to turn an abstract innovation direction into a practical engineering solution.
Function Achieved in This Case
Enhances security and convenience by ensuring only the authenticated user can conduct transactions, reducing the risk of theft and merchant skepticism, while allowing seamless and secure electronic financial transactions.
Implementation Method 1
NFC-enabled devices use short distance communications between the NFC-enabled device and a point-of-sale (POS) terminal
Implementation Method 2
wearable smart ring device including at least one of a near-field communication (NFC) sensor or a radio frequency identification (RFID) sensor
Data Source
AI summary
A method and system for a one-time authentication interaction to conduct electronic financial transactions using a wearable smart ring device is described. In one embodiment, a method includes detecting, by a mobile device, that a wearable smart ring device is being worn by a user. The method also includes receiving, by the mobile device, authentication information associated with the user, and comparing the received authentication information with stored authentication information associated with the user. Upon determining that the received authentication information matches the stored authentication information, the wearable smart ring device is authorized to conduct electronic financial transactions. Additionally, the wearable smart ring device remains authorized to conduct electronic financial transactions as long as it is worn by the user. Once removed from the user's finger, the wearable smart ring device is de-authorized.