Virtual Payment Card Token Embedding URL Session ID
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Solution Overview
Problem
Current online payment systems lack the ability to track and verify the specific URL/SESSION ID used for transactions, leading to missed opportunities for retailers and issuing authorities to offer benefits and incentives, as well as increased risk of fraudulent transactions due to lack of authorization based on the transaction portal.
Innovation Solution
A system that utilizes a virtual payment card with embedded URL/SESSION ID information, combined with 3D Secure authentication, to ensure that transactions are authorized and tracked correctly, allowing for the enforcement of pre-set rules and the provision of benefits to all parties involved.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Loss of information
If traditional payment systems transmit only discrete data according to standard message format, then the payment processing is simple and fast, but the issuing institution cannot receive information relating to the online address and cannot track the transaction portal
Solution Approach 1:
The patent combines the payment token transmission with the online address (URL/SESSION ID) into a single data package that is sent to the issuing institution. This merging allows the issuing institution to receive both payment information and portal identification information simultaneously, eliminating the need for separate tracking systems while maintaining simple standard message formats.
Solution Approach 2:
The payment token system is enhanced to serve multiple functions: it not only processes the payment transaction but also identifies the transaction portal and enables tracking of affiliate relationships. This multi-functionality allows a single system to handle both payment processing and portal tracking without requiring additional separate systems.
2Reliability
If additional payment authorisation security step is introduced to reduce fraudulent transactions, then the security is improved, but the transaction processing time increases
Solution Approach 1:
The system performs preliminary verification by checking whether the online address matches pre-agreed affiliate relationships between the issuing institution and portals before completing the transaction. This preliminary action allows the system to quickly approve legitimate transactions that match pre-established agreements while only requiring additional verification for non-matching cases, thus maintaining fast processing for most transactions while improving security.
3Adaptability or versatility
If the system tracks the initiating portal to provide information to the issuing institution, then the ability to offer benefits and incentives is improved, but the system complexity increases
Solution Approach 1:
The system uses the online address (URL/SESSION ID) as a key parameter to identify the initiating portal and retrieve pre-configured benefit rules. By changing the approach from complex real-time analysis to simple parameter matching and rule retrieval, the system can offer targeted benefits and incentives based on the identified portal while keeping the implementation relatively simple through rule-based logic.
Data Source
AI summary
The combination of virtual payment cards (tokens) and 3D Secure to transparently transport information to an issuing authority between mutually independent transactions. Furthermore, the virtual payment card standard digital information is transformed by embedding the mandated URL/SESSION ID without the need for the card schemes, acquirers, or payment gateways to make any modifications to their system or message formats.