Trust Signals for Payment Recipient Verification
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Solution Overview
Problem
Electronic payment systems face challenges in verifying the identity of recipients, leading to misdirected or fraudulent payments, as existing technologies lack efficient methods to ensure payments are made to the correct intended recipient, resulting in cumbersome reversal processes and increased computational costs.
Innovation Solution
Integrating social network platforms with payment service computing platforms to generate unalterable trust signals, which provide quantitative indicators of trust based on user relationships and transaction history, allowing users to confirm the identity of recipients before initiating payments and preventing erroneous transfers.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Measurement precision
If social network integrations are implemented to generate trust signals, then payment verification accuracy is improved, but device complexity increases
Solution Approach 1:
The patent introduces trust signals as an intermediary mechanism that mediates between the payment service computing platform and social network platforms. These trust signals aggregate complex social graph data, relationship strengths, and transaction histories into simplified verification indicators that can be easily consumed by the payment system, thereby resolving the contradiction between verification accuracy and system complexity
Solution Approach 2:
The verification process is segmented into distinct components: trust signal generation from social network data, trust signal transmission to the payment platform, and trust signal evaluation for payment verification. This segmentation allows each component to be optimized independently, reducing overall system complexity while maintaining high verification accuracy
2Reliability
If comprehensive transaction verification is performed, then payment security is improved, but processing time increases
Solution Approach 1:
Trust signals are generated and made available in advance before payment transactions occur. Social network data, relationship mappings, and transaction histories are pre-processed into trust signal formats, allowing the payment system to perform rapid verification by simply retrieving and evaluating pre-computed trust signals rather than analyzing raw social graph data in real-time
Solution Approach 2:
The system implements feedback mechanisms where trust signal evaluation results are used to adjust verification thresholds and processing depth for subsequent transactions. High-trust transactions can undergo simplified verification, while low-trust transactions receive more comprehensive checks, optimizing the balance between security and processing time
3Measurement precision
If detailed trust signals are generated and stored, then transaction accuracy is improved, but data storage requirements increase
Solution Approach 1:
The patent extracts only the essential verification-related features from comprehensive social network data, creating compact trust signals that contain precisely the information needed for payment verification. Rather than storing complete social graphs and transaction histories, the system extracts and stores aggregated trust metrics, relationship strengths, and verification-relevant patterns, significantly reducing data storage requirements while maintaining verification accuracy
Data Source
AI summary
Verified transactions through integrations of social network and payment service computing platforms are described. A payment service computing platform may retrieve one or more profiles of users having a relationship with a first user based on a request received from the first user in the context of a payment transaction with a second user. The payment service computing platform may further determine, based on the one or more profiles, an indirect relationship between the first user and the second user, determine, based at least in part on the determination of the indirect relationship, a trust signal associated with the second user, and cause a user interface to be displayed via a payment application executing on an electronic device associated with the first user, wherein the user interface comprises an indication of an identity of the second user and an indication of the trust signal.