Time-Limited Payment Card Number Generation for Transaction Security
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Solution Overview
Problem
Payment card transactions lack adequate security measures, as sensitive information such as card numbers can become known to third parties without the cardholder's consent, potentially leading to unauthorized use.
Innovation Solution
A system and method for generating a time-limited payment card number for use in transactions, where the original payment card number is modified by setting specific digits to predetermined institution-associated digits and a number corresponding to a desired expiration date, creating a unique alternate number that is transmitted and validated based on the expiration date and additional user data, thereby enhancing transaction security.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If the original payment card number is used for transactions, then the transaction can be processed normally, but the cardholder's sensitive information may become known to third parties leading to unauthorized use
Solution Approach 1:
The original payment card number is segmented into multiple components: a static prefix (first plurality of digits), a dynamic time-limited portion (second plurality of digits), and a checksum. This segmentation allows the system to protect the static prefix while using the dynamic portion for transaction-specific authentication, thereby enhancing security without requiring a complete system overhaul.
Solution Approach 2:
The system performs preliminary actions by pre-establishing the structure of the alternate payment card number with embedded expiration date information before the transaction occurs. The time-limited portion is generated in advance based on the desired expiration date, allowing the financial institution to validate both the number format and the time constraint before the actual transaction takes place.
2Reliability
If a time-limited number is generated with expiration date digits, then the number becomes invalid after a selected time preventing unauthorized use, but the system complexity increases due to additional validation requirements
Solution Approach 1:
The payment card number transitions from a static identifier to a dynamic, time-sensitive credential. The second plurality of digits changes based on the desired expiration date, creating a dynamic authentication mechanism that automatically becomes invalid after the specified time period, thereby providing time-based security without requiring continuous external validation.
Solution Approach 2:
The system creates disposable, short-lived payment credentials that are valid only for a specific time period. Once the time-limited portion expires, the alternate payment card number becomes invalid and cannot be used for transactions, eliminating the need for complex revocation systems and providing automatic security expiration.
3Reliability
If the alternate number structure is designed with embedded expiration date, then the actual payment card number remains secure even if the alternate number is stolen, but the manufacturing complexity of the number generation system increases
Solution Approach 1:
The alternate payment card number serves as an intermediary credential that mediates between the user and the actual payment card number. It embeds the expiration date within its structure (second plurality of digits) and can be generated and validated without exposing the static prefix or the actual card number, thereby protecting the sensitive information while maintaining transaction functionality.
Solution Approach 2:
The system creates a functional copy of the payment card number structure that mimics the format and validation requirements of traditional card numbers but incorporates additional security features. The alternate number is a copy that includes the embedded expiration date in the second plurality of digits, allowing it to be processed by existing payment systems while providing enhanced security through its time-limited nature.
Data Source
AI summary
A system and method for generating a limited use login credential associated with an account maintained by an institution, where the credential facilitates secure access to the account.