Virtual Wallet System for Secure Mobile Transaction Access
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Solution Overview
Problem
Mobile device users face inconvenience in accessing various types of information, such as phone numbers and identification documents, which are typically stored in separate locations like wallets or organizers, leading to difficulties in transactions and potential security risks if these items are misplaced or stolen.
Innovation Solution
A virtual wallet system that allows users to store electronic representations of identification, financial, and other information on a mobile device or a server, enabling secure access and transmission for transactions via near field or far field wireless links.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If users store information in separate physical locations (wallet, purse, billfold, organizer), then information can be kept organized and secure, but users experience inconvenience when accessing information stored in different locations and may not have all necessary items when needed for transactions
Solution Approach 1:
The patent consolidates multiple types of information (identification documents, financial cards, coupons, contacts, calendars) that were previously stored in separate physical locations into a single mobile device. This merging eliminates the need to carry multiple physical items and provides centralized access to all information through one device interface.
Solution Approach 2:
The mobile device is designed to perform multiple functions by storing diverse information types including ID documents, credit cards, driver's license, coupons, contact information, and calendar events. This universal storage capability allows the device to replace traditional wallet, purse, billfold, and organizer functions with a single multi-functional platform.
2Ease of operation
If users carry physical cards and licenses, then information is immediately available for transactions, but there is a security risk that information is immediately available to anyone who comes into possession of the card/license if misplaced or stolen
Solution Approach 1:
The patent creates digital copies of physical identification documents, cards, and licenses and stores them in the mobile device. These digital replicas provide the same functional information as the originals but can be protected by security measures such as passwords, biometric authentication, and encryption, thereby reducing the security risks associated with carrying physical originals.
3Productivity
If users keep information in traditional physical storage, then no additional processing is needed, but users must physically retrieve items from storage locations which consumes time and may cause delays in transactions
Solution Approach 1:
The patent pre-loads all necessary information (identification, financial data, coupons, contacts, calendar events) into the mobile device in advance. This preliminary action ensures that when a transaction or information need arises, the user can immediately access the required data from the mobile device without needing to physically retrieve items from distant storage locations, thereby eliminating time delays.
Data Source
AI summary
A managed service may include first logic to receive authentication information from a user terminal on behalf of a user, and receive user information on behalf of the user when the user terminal is authenticated via the authentication information. The first logic may send a portion of the user information to a mobile wallet application operating on a mobile terminal related to the user, and may receive updated user information from the mobile terminal, where the updated user information identifies a change to the portion of the user information, the change based on an operation performed via the mobile terminal on behalf of the user. The managed service may include second logic to store the user information in a server virtual wallet application on behalf of the user, retrieve the portion of the user information from the server virtual wallet application for the sending, and store the updated user information in the server virtual wallet application.