Vendor-Specific Data Tokenization for Secure Transactions
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Solution Overview
Problem
The security of sensitive data, such as credit card numbers and social security numbers, is compromised due to vulnerabilities in vendor systems, leading to potential identity theft and credit card fraud, despite encryption efforts.
Innovation Solution
A system and method for tokenizing sensitive data using a proprietary algorithm to generate vendor-specific tokens and identifiers, ensuring secure transactions without storing the actual data, and periodically updating these tokens to enhance security.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Adaptability or versatility
If sensitive data is stored and processed by multiple vendors, then transaction functionality is enabled, but security vulnerabilities increase and data breaches become more likely
Solution Approach 1:
The patent segments sensitive data into two distinct components: tokens (stored by vendors for transaction processing) and token identifiers (stored by the user). This segmentation allows vendors to perform transactions without accessing actual sensitive data, thereby maintaining transaction functionality while eliminating security vulnerabilities associated with data storage at vendor premises.
Solution Approach 2:
The patent introduces tokens as intermediary representations of sensitive data. Instead of vendors storing or processing actual sensitive data directly, they store and process tokenized versions. This intermediary layer enables transaction processing while preventing direct exposure of sensitive information, thus resolving the contradiction between functionality and security.
2Reliability
If sensitive data is encrypted and stored by vendors, then data protection is improved, but security holes may still develop due to multiple storage locations
Solution Approach 1:
The patent extracts the actual sensitive data from vendor storage systems and replaces it with tokens. The tokenization process removes the harmful element (sensitive data) from vendor environments while retaining the functional capability to process transactions. This extraction eliminates security holes that would otherwise exist in multiple vendor storage locations.
Solution Approach 2:
The patent creates token copies that represent sensitive data without containing the actual sensitive information. These token copies enable all necessary transaction processing functions while being inherently secure since they do not expose the underlying sensitive data. The copying mechanism allows vendors to work with secure representations rather than the actual sensitive data.
3Reliability
If tokens are generated for each vendor, then data security is enhanced, but system complexity increases
Solution Approach 1:
The patent implements a universal tokenization system where a single tokenization service can generate tokens for multiple vendors using consistent algorithms and protocols. This universal approach enhances security through standardized processes while avoiding the complexity of implementing separate tokenization systems for each vendor. The multi-functional token service handles different vendors' requirements through a unified framework.
Data Source
AI summary
Included are embodiments for tokenizing sensitive data. Some embodiments of systems and/or methods are configured to receive sensitive data from a vendor, determine a token key for the vendor, and utilize a proprietary algorithm, based on the token key to generate a vendor-specific token that is associated with the sensitive data. Some embodiments include creating a token identifier that comprises data related to the token key sending the vendor-specific token and the token identifier to the vendor.