Digital Wallet Credit Card Tokenization and Instant Integration
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Solution Overview
Problem
Users face delays in using new credit cards as they need to wait for physical cards to arrive and be activated before they can be added to digital wallets, which is inconvenient and time-consuming.
Innovation Solution
A system that automatically generates and integrates a credit card into a user's digital wallet upon approval, using a security confidence rating to ensure the device is authentic and secure, allowing instant access and use without a physical card.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If physical credit card delivery and activation process is used, then security and formal authorization are ensured, but user convenience and time efficiency deteriorate due to waiting delays
Solution Approach 1:
The system performs preliminary actions by pre-generating virtual credit card tokens and pre-authorizing them in the digital wallet before the physical card is delivered. The tokenization process and authorization setup are completed in advance, so when the user receives the physical card, the digital wallet is already configured and ready for immediate use, eliminating the waiting period.
Solution Approach 2:
The system creates a digital copy (token) of the credit card information that functions equivalently to the physical card. This virtual token contains all necessary credentials and can be used in digital wallets, providing a replica of the physical card's functionality without requiring the physical card itself, thus improving convenience and eliminating delivery waits.
2Productivity
If virtual card token is generated and integrated instantly to digital wallet, then user convenience and time efficiency are improved, but security risks and device authentication complexity worsen
Solution Approach 1:
The system introduces a token as an intermediary between the credit card system and the digital wallet. This token acts as a secure mediator that carries authorization information without exposing sensitive card details. The tokenization process simplifies security checks by using standardized protocols and pre-validated tokens, reducing the complexity of real-time authentication while enabling instant integration.
Solution Approach 2:
The system implements self-service authentication mechanisms where the digital wallet and issuing bank automatically perform mutual validation and token verification without requiring complex manual security checks. The devices autonomously authenticate each other using pre-established security protocols and device identifiers, streamlining the integration process while maintaining security.
3Reliability
If physical credit card is required for digital wallet integration, then security and formal authorization are ensured, but ease of operation and user experience worsen due to manual card handling
Solution Approach 1:
The system uses digital token copies instead of physical cards for wallet integration. These tokens replicate the authorization functionality of physical cards but can be programmatically transferred and integrated into digital wallets through automated processes, eliminating manual card handling while maintaining authorization reliability through cryptographic validation.
Solution Approach 2:
The system replaces the mechanical process of physical card insertion and manual data entry with automated electronic token transmission and programmatic integration. The physical card handling mechanics are substituted with digital data exchange protocols, allowing seamless integration into digital wallets while preserving authorization security through encrypted token verification.
Data Source
AI summary
Embodiments of the invention are directed to a system, method, or computer program product for security confidence calculation for digital wallet integration. In this way, the invention provides instantaneous access to new payment methods, such as credit cards with prevention of misappropriation based on user device security confidence and token presentation. As such, the system allows for instant application approval, authorization, and instant integration of credit cards to a user's digital wallet. Thus allowing a user to instantaneously use the new credit card via his/her digital wallet without having to wait for the physical card to be received and activated.