Third-Party Dynamic QR Authentication for Cardless ATM Cash Transactions
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Solution Overview
Problem
Individuals without a bank-issued ATM/Debit/Credit card cannot perform transactions such as withdrawing or depositing cash at an ATM, posing a challenge for runners or others who need to deposit cash on behalf of employers.
Innovation Solution
A mobile application allows authorized users to prestage transactions, using biometric authentication and a dynamic QR code to authenticate and authorize cash withdrawals or deposits at an ATM without the need for a physical card, by generating a unique QR code that is periodically refreshed to prevent fraud.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If a physical ATM card is required for transactions, then security and authorization are ensured, but accessibility and convenience are reduced for users without cards
Solution Approach 1:
The patent replaces the physical ATM card with a digital copy in the form of a QR code displayed on a mobile device screen. The QR code contains the necessary account information and authentication data to perform transactions, serving as a virtual duplicate of the card's functionality without requiring the physical card itself.
Solution Approach 2:
The patent substitutes the mechanical card-swiping or card-insertion system with an optical/electronic system. The ATM captures the QR code image using its camera, processes the visual information, and completes authentication electronically, replacing the physical card interaction mechanism with a digital imaging and processing system.
2Ease of operation
If a static QR code is used for authentication, then ease of use is improved, but security is compromised due to potential fraud and replay attacks
Solution Approach 1:
The patent transforms the static QR code into a dynamic one that changes over time. The QR code is periodically refreshed with new data, making each code unique to a specific time window. This dynamic nature prevents replay attacks while maintaining the ease of scanning and authentication process.
Solution Approach 2:
The patent implements periodic refreshing of the QR code at predetermined time intervals. Each QR code is valid only for a specific time window, after which a new code is generated. This periodic renewal mechanism ensures that even if a code is captured, it cannot be reused after its validity period expires, enhancing security while preserving user convenience.
Data Source
AI summary
Disclosed herein are system, method, and computer program product embodiments for using a third party dynamic QR code on a personal mobile device to complete a transaction at an ATM. The customer may stage a transaction using a mobile application on a mobile device. Upon the staged transaction being authenticated and approved, a machine-readable image may be transmitted to the mobile device. When the customer visits the ATM, the machine-readable image on the mobile device may be captured by the ATM and sent to an application server from the ATM. The application server may associate the ATM with the staged transaction that is staged using the mobile application, and send instructions to the ATM to dispense cash according to the staged transaction.