Token-Based Payment Payload for Mobile Messaging
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Solution Overview
Problem
Conventional mobile payment methods are complex, time-consuming, and lack flexibility for transferring funds between individuals using mobile devices, as they rely on outdated protocols and limited capabilities of messaging systems, making it difficult to send digital money securely and easily.
Innovation Solution
A system and method that utilizes a payment processing server integrated with instant messaging platforms to facilitate secure and easy mobile payments by generating a token-based payload with a hyperlink and image, allowing users to transfer funds without revealing recipient information, leveraging existing telecommunications and network infrastructures.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If conventional online payment methods are used, then financial transactions can be completed, but the process becomes complex and time-consuming requiring multiple information inputs
Solution Approach 1:
The payment process is segmented into distinct phases: initiation through messaging application, token generation by payment server, payload creation with embedded token, and final transaction completion. This segmentation allows each component to handle specific tasks independently, reducing overall complexity while maintaining reliability.
Solution Approach 2:
A payment server acts as an intermediary between the messaging application and the financial transaction system. The server receives payment requests, generates secure tokens, creates payloads, and coordinates the transaction without requiring users to directly input sensitive financial information, thereby simplifying the user experience while ensuring secure completion.
2Reliability
If financial information and identification verifications are required, then secure payments can be made, but the process becomes time-consuming and complex
Solution Approach 1:
The payment server performs preliminary actions by pre-generating secure tokens and creating validated payloads before the actual transaction occurs. These pre-prepared elements contain embedded verification data, eliminating the need for real-time information input and verification during the payment moment, thus reducing time loss while maintaining security.
Solution Approach 2:
Instead of requiring users to input sensitive financial information repeatedly, the system creates a copy of the verified payment intent in the form of a tokenized payload. This payload contains all necessary verification data in encrypted form, allowing secure transaction processing without re-entering sensitive information, thereby reducing time while maintaining security.
3Ease of operation
If messaging systems use outdated protocols, then simple text communication is maintained, but the capability to transfer funds securely is limited
Solution Approach 1:
The system merges conventional messaging functionality with financial transaction capabilities by integrating token generation and payload creation directly within the messaging application flow. Users initiate payments through the same interface used for casual messaging, combining simplicity with enhanced versatility without requiring separate applications or complex procedures.
Solution Approach 2:
The messaging application is enhanced to serve multiple functions: standard text communication, payment initiation, token reception, and transaction completion. The payment server provides universal service handling various payment types and verification methods through a single interface, allowing the system to maintain messaging simplicity while gaining broad fund transfer capability.
Data Source
AI summary
In one embodiment, a method includes receiving, by a payment server and from a messaging application executing on a first mobile device operated by a first user, a request to initiate a payment transaction using a payment application. The request includes a payment amount and an identifier associated with the first user. The method includes facilitating a first adjustment to a balance associated with the financial account of the first user in the data store identified based on the identifier. The method includes generating a link associated with the first adjustment and transmitting the link to the first mobile device. The method includes, upon receiving from a second user operating a messaging application, an indication that the second user has interacted with the link within the messaging application, facilitating a second adjustment of a balance of a financial account of the second user according to the payment amount.