Stored-Value Card Agent Ledger for Anonymity and Fund Access
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Stored-value card systems do not allow users to withdraw funds or transfer them within the network due to technological limitations and anonymity requirements, preventing users from accessing their funds beyond the initial deposit.
Innovation Solution
A stored-value card agent with a network interface and ledger database separate from the card network, enabling users to deposit, withdraw, and transfer funds electronically through a wallet client, maintaining anonymity by using unique identifiers and secure transactions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If the stored-value card network maintains separate anonymity from the merchant's acquirer network, then user anonymity is preserved, but users cannot withdraw funds from their stored-value card accounts
Solution Approach 1:
The patent introduces a ledger as an intermediary data structure that bridges the anonymous stored-value card network and the identified user account system. The ledger maintains a mapping between anonymous card identifiers and identified user accounts, enabling fund withdrawals without compromising the anonymity of the card network itself. This intermediary layer allows the system to satisfy both anonymity requirements and withdrawal capabilities.
2Reliability
If the stored-value card network is kept separate from the merchant's acquirer network, then anonymity is maintained, but the system lacks information to identify users for fund transfers
Solution Approach 1:
The patent segments the information storage into distinct components: the stored-value card network maintains only anonymous card identifiers, while a separate ledger component stores the mapping between these identifiers and identified user accounts. This segmentation allows the card network to remain anonymous while the ledger preserves the necessary identification information for fund transfers and withdrawals.
3Speed
If a pre-paid funds balance is stored locally on the stored-value card, then transaction speed is improved, but users cannot access funds beyond the initial deposit
Solution Approach 1:
The ledger acts as an intermediary that enables flexible fund access while maintaining the benefits of local balance storage. When users need to withdraw or transfer funds, the system queries the ledger to verify the mapping between the anonymous card and identified account, then processes the withdrawal through the identified account system. This maintains fast local transaction processing while adding versatile fund access capabilities.
Data Source
AI summary
A stored-value card system includes a POS terminal, a communications device, and a stored-value card agent. The stored-value card agent is configured to receive, from the communications device, a message that identifies a payment amount; transmit, to a stored-value card network, a request message that includes the payment amount; receive a confirmation of the stored-value card network associating the payment amount with a stored-value card account that is maintained by the stored-value card network; and transmit a token to the communications device. The POS terminal is configured to transmit to the stored-value card network a completion message that includes the token and excludes the payment amount, and receive from the stored-value card network an authorization code that confirms authorization of a funds transfer in the payment amount.