Transaction Token Issuing Authorities for Mobile Payment Versatility
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Solution Overview
Problem
Existing payment systems face challenges in efficiently managing transactions across multiple entities and systems, requiring users to navigate complex communication channels and authentication processes, especially when using mobile devices for transactions with merchants or ATMs.
Innovation Solution
The system allows mobile devices to determine the appropriate transaction management system to communicate with by capturing and processing tokens, enabling multiple transaction management systems to be involved in a transaction, with wallet issuers and token issuing authorities performing authentication and management functions, and using directory services to map tokens to communication paths.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If mobile devices are used to conduct transactions with multiple merchants and transaction management systems, then transaction versatility and adaptability improve, but device complexity and communication complexity increase
Solution Approach 1:
The patent introduces a transaction management system as an intermediary layer between mobile devices and multiple merchants. This system handles the complexity of communicating with different transaction systems, token issuance, and authentication, allowing mobile devices to interact seamlessly with various merchants without users needing to understand the underlying system complexity.
Solution Approach 2:
The patent creates a universal token-based transaction framework that works across multiple merchants and transaction management systems. The token serves as a universal credential that can be used with different systems, and the directory service provides universal mapping capabilities, enabling one mobile device to interact with many different transaction systems through a common interface.
2Adaptability or versatility
If multiple transaction management systems are involved in a transaction, then system adaptability and service coverage improve, but authentication complexity and processing time increase
Solution Approach 1:
The patent implements preliminary authentication and token issuance before the actual transaction occurs. The wallet issuer authenticates the user and issues a token in advance, and the directory service pre-establishes mapping relationships. When a transaction occurs, the pre-authenticated token can be quickly validated without repeating the full authentication process, significantly reducing transaction-time delays.
Solution Approach 2:
The patent incorporates feedback mechanisms where the transaction management system receives transaction information from merchants, validates tokens through the directory service, and provides authentication results back to complete the transaction. This structured feedback loop ensures that authentication information flows efficiently between multiple systems without requiring users to manually intervene or wait for complex multi-system coordination.
3Reliability
If tokens are used to link entities in transactions, then transaction security and credential protection improve, but system complexity and infrastructure requirements increase
Solution Approach 1:
The patent extracts the sensitive payment credentials from the mobile device and stores them securely with the wallet issuer. Instead of requiring the mobile device to contain actual payment information, the system issues tokens that reference the credentials. This extraction of sensitive data from the user device reduces security risks while the token infrastructure provides the necessary linking functionality between entities.
Solution Approach 2:
The patent creates token copies that represent the user's payment credentials without exposing the actual sensitive information. The token is a simplified representation or copy of the full credential set, containing only the necessary information for transaction identification and authorization. This copying approach maintains security while enabling transaction processing across multiple systems.
Data Source
AI summary
Systems, methods, apparatus, processes, computer program code and means for conducting transactions are described which allow a first party to a transaction to identify a second party to a transaction.