Time-Controlled Electronic Wallet for Contactless Payment Security
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Solution Overview
Problem
Existing payment systems, such as credit cards and smart cards, are vulnerable to identity theft due to the ease with which they can be stolen and used for unauthorized purchases, as they often remain in a ready-to-pay mode for extended periods without user intervention.
Innovation Solution
A mobile device with a time-controlled electronic wallet that initiates a ready-to-pay mode and starts a timer, automatically closing the wallet after a set period to reduce vulnerability to identity theft, while also providing alerts and the option to extend or reset the timer for user convenience.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If the electronic wallet remains in ready-to-pay mode for extended periods, then payment convenience is improved, but vulnerability to identity theft increases
Solution Approach 1:
The electronic wallet dynamically transitions between ready-to-pay mode and closed mode based on timer expiration. The system automatically adjusts its state from open (convenient but vulnerable) to closed (secure but less accessible), creating a dynamic security model that balances convenience and protection throughout the payment process.
Solution Approach 2:
The ready-to-pay timer implements periodic action by automatically switching the electronic wallet between operational states. The timer creates regular intervals where the wallet is accessible for payment, then automatically closes after a predetermined period, establishing a rhythmic pattern of accessibility and security that prevents continuous exposure to theft risks.
2Reliability
If the electronic wallet automatically closes after a set period, then security against identity theft is improved, but payment transaction time increases
Solution Approach 1:
The system performs preliminary action by pre-setting the timer duration before the payment transaction begins. The predetermined time period is established in advance, allowing the wallet to remain open long enough to complete typical transactions while ensuring automatic closure if the transaction is not completed within the expected timeframe, thus preventing both security risks and unnecessary time loss.
3Ease of operation
If the electronic wallet requires user intervention to close, then control over payment information is maintained, but ease of operation is reduced
Solution Approach 1:
The electronic wallet implements self-service by automatically closing itself based on timer expiration without requiring user intervention. The system monitors its own operational state and autonomously transitions to closed mode when the predetermined time period elapses, eliminating the need for users to manually close the wallet while maintaining both security and ease of operation.
Data Source
AI summary
A mobile device having a time controlled electronic wallet is disclosed. The mobile device comprises a processor and an electronic wallet application that executes on the processor. The electronic wallet application enters a ready-to-pay mode, initiates a ready-to-pay timer when entering the ready-to-pay mode, transmits the confidential information when in the ready-to-pay mode based on receiving contactless communication, and leaves the ready-to-pay mode when the ready-to-pay timer expires.