Transaction Verification Using Location Data and Identifiers
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Solution Overview
Problem
Current wallet applications require users to share personal identifying information for peer-to-peer transactions, which can lead to undesirable contact or identity theft when dealing with unfamiliar parties, and lack sufficient security against fraudulent claims.
Innovation Solution
A method that uses transaction identifiers and location data to verify the intended recipient without sharing personal information, by comparing the transaction identifiers and location data within a defined range, enhancing security and user-friendliness for transactions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If personal identifying information (email, phone number) is required for transaction verification, then transaction security is improved, but user privacy and safety deteriorate due to exposure to unfamiliar parties
Solution Approach 1:
The patent extracts the essential verification element (location data) from the traditional personal identifying information (email, phone number). By removing the need to share sensitive personal details while retaining location-based verification, the system maintains transaction security without exposing user privacy to unfamiliar parties.
Solution Approach 2:
The patent introduces location data as an intermediary verification mechanism between sender and recipient. Instead of directly sharing personal identifying information, the system uses location-based verification as a mediator to confirm recipient identity, thereby protecting user privacy while ensuring transaction reliability.
2Measurement precision
If transaction verification requires personal identifying information, then recipient identification accuracy is improved, but ease of operation deteriorates due to complexity of information sharing
Solution Approach 1:
The patent changes the verification parameter from personal identifying information (email, phone number) to location data. This parameter substitution maintains recipient identification accuracy while significantly simplifying the user experience, as location verification is automatically handled through device location services without requiring manual information exchange.
3Reliability
If location-based verification is implemented, then fraud prevention is improved, but device compatibility requirements worsen due to need for location services
Solution Approach 1:
The patent leverages the universal presence of location services in modern mobile devices. By using a feature that is already widely integrated into smartphones and tablets for other purposes, the system achieves fraud prevention without adding significant device complexity or requiring specialized hardware. The multi-functionality of location services in mobile devices makes this approach broadly compatible.
Data Source
AI summary
The disclosure facilitates a transaction by verifying a transaction claim request. An initiation request, including sender location data indicating a sender location, is received from a sender. A first transaction identifier associated with the transaction and the sender location data are recorded in a data structure. A claim request is received from a candidate recipient, the claim request including a second transaction identifier and recipient location data indicating a recipient location. The first and second transaction identifier are compared. The sender location and recipient location are compared based on a defined range. Based on the first and second transaction identifiers matching and the recipient location being within the defined range of the sender location, the claim request is verified, providing confirmation that the recipient is an intended recipient. Verifying transactions based on identifiers and location data enhances transaction security while preserving the privacy of parties' personal information.