Virtual Corporate Card Numbers for Secure Real-Time Payment Control
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Solution Overview
Problem
Existing corporate card management systems face issues with physical card leakage and the need for user identification processes, such as one-time-passwords, which are cumbersome and not suitable for various fields, while also requiring multiple physical cards to be issued and managed.
Innovation Solution
A virtual corporate card system that generates employee-specific virtual card numbers using a manager application and employee application, linked to a server, which manages and verifies card usage conditions in real-time without exposing actual card numbers, allowing payments with actual or virtual card numbers based on stored conditions.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If actual corporate card numbers are printed on physical cards and transmitted to POS devices, then payment functionality is enabled, but card number leakage occurs exposing security vulnerabilities
Solution Approach 1:
The patent replaces actual corporate card numbers with virtual card numbers that function as secure copies. The virtual card number serves as a surrogate that enables payment transactions without exposing the real card number, thus preventing leakage while maintaining payment functionality
Solution Approach 2:
The patent introduces a virtual card number as an intermediary between the actual card number and the payment system. This intermediary layer allows transactions to proceed without directly exposing the sensitive actual card number, acting as a buffer that prevents leakage
2Reliability
If one-time-password (OTP) codes are used for user identification, then security is improved, but login procedures become complex and difficult to apply across various fields
Solution Approach 1:
The patent creates a virtual card number generation function that can be universally applied across different fields and scenarios. Unlike OTP which requires specific login procedures, the virtual card number system can be used in various payment contexts without requiring separate authentication workflows for each field
3Ease of operation
If multiple physical corporate cards are issued to employees, then individual payment capabilities are enabled, but card management becomes cumbersome and unnecessary cards are issued
Solution Approach 1:
Instead of issuing multiple physical cards, the patent generates virtual card numbers that can be distributed digitally. These virtual copies enable individual payment capabilities without the physical card issuance and collection process, simplifying management while maintaining individual access
Solution Approach 2:
The patent extracts the essential payment functionality from physical cards and implements it through virtual card numbers. By separating the payment capability from the physical card medium, the system eliminates the need for physical card management while preserving individual payment capabilities
4Reliability
If virtual card numbers are used to prevent leakage, then security is improved, but additional data is needed to identify users and search for corresponding actual codes
Solution Approach 1:
The patent merges user identification information with the virtual card number generation process. The virtual card number is generated based on employee information stored in the system, combining identification and payment functionality into a single integrated solution that doesn't require separate identification data
Data Source
AI summary
Embodiments of the inventive concept provide a method, program, and system for providing a virtual corporate card-based financial transaction that may reduce the issuance of unnecessary physical corporate cards and may conveniently and quickly manage the issuance and management of corporate cards in real time.