Electronic Wallet Payment Form Transcoding for Mobile Security
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Solution Overview
Problem
Current systems for making electronic payments on wireless mobile devices require repeated entry of credit card information and involve different transaction processes for each website or application, lacking a unified and secure method.
Innovation Solution
A system and method utilizing an electronic wallet integrated with a wireless mobile device, which securely stores payment card data and employs a wallet security module for authentication using fingerprint readers, voice input, or password protection, allowing seamless and secure payments across various online vendors and applications.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Ease of operation
If credit card information is stored at each online store for future purchases, then ease of operation is improved, but security risk increases due to multiple storage locations
Solution Approach 1:
The patent merges multiple credit card storage locations into a single centralized electronic wallet application on the mobile device. Instead of storing card information at each online store, all card data is consolidated in one secure location that can be accessed across different vendors, reducing the number of security vulnerabilities while maintaining ease of use.
Solution Approach 2:
The electronic wallet acts as an intermediary between the user's credit card information and the online stores. It provides a secure layer that encrypts and manages card data, allowing users to make purchases across different vendors without directly exposing their card information to each store's system.
2Adaptability or versatility
If different transaction processes are used for each website or application, then adaptability is improved, but device complexity increases
Solution Approach 1:
The electronic wallet is designed as a universal payment system that works across multiple different websites and applications. It provides a single unified interface for managing and transmitting credit card information regardless of which vendor or application is being used, eliminating the need to learn different transaction processes for each platform.
3Reliability
If credit card information is entered repeatedly for each website, then security is improved, but loss of time increases
Solution Approach 1:
The electronic wallet pre-stores credit card information in an encrypted format within the mobile device. This preliminary action allows the card data to be readily available for immediate use during transactions without requiring repeated manual entry, while maintaining security through encryption and authentication mechanisms.
Data Source
AI summary
An electronic device, system and method are provided for populating an online payment form. An electronic wallet resident on an electronic device stores data for at least one payment card. A transcoding proxy receives an online payment form from a website of an online vendor, and the electronic wallet is invoked to access data for one of the payment cards. The data is provided to the transcoding proxy, which populates the online payment form. One of the payment cards may be pre-selected for use with a given vendor.