Electronic Wallet Security Levels for Payment Convenience
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Existing payment card security methods, such as credit cards and smart cards, often require personal identification numbers (PINs) for transactions, which can be inconvenient and lead to user embarrassment, especially when multiple steps are needed for each transaction, potentially compromising ease of use.
Innovation Solution
A portable electronic device with an electronic wallet application that offers three levels of security configuration, allowing for streamlined payment processes: requiring a PIN for the first level, eliminating contemporaneous PIN entry for the second level, and enabling payments without PIN or wallet launch for the third level, enhancing user convenience while maintaining security.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If multiple security steps (PIN entry, wallet launch) are required for payment transactions, then payment security is improved, but user convenience and transaction efficiency deteriorate
Solution Approach 1:
The patent implements dynamic security levels that adjust the number of authentication steps based on the transaction context and user preferences. The system transitions from static multi-step authentication to dynamic authentication where the required steps vary according to the security level selected, allowing the payment system to adapt between high security and high convenience modes.
Solution Approach 2:
The patent changes the security parameter by introducing multiple security levels (first, second, and third levels) that modify the authentication requirements. By parameterizing the security configuration, the system can adjust the number of required steps (PIN entry, wallet launch) to match user needs, resolving the contradiction between security and convenience.
2Reliability
If multiple security steps (PIN entry, wallet launch) are required for payment transactions, then payment security is improved, but transaction time increases
Solution Approach 1:
The system dynamically adjusts authentication steps based on security level, reducing transaction time when lower security levels are selected. The dynamic configuration allows the payment process to adapt its duration based on the required security, eliminating unnecessary waiting steps when maximum security is not needed.
Solution Approach 2:
By parameterizing security levels, the system enables flexible control over transaction time. Users can select from multiple security parameters, each corresponding to different authentication step requirements, thereby optimizing the trade-off between security and transaction speed.
3Reliability
If multiple security steps are required for payment transactions, then payment security is improved, but device complexity increases
Solution Approach 1:
The patent segments the authentication process into distinct, modular steps (wallet launch, PIN entry) that can be independently configured through security levels. This segmentation allows the complex multi-step authentication to be organized into manageable units, reducing perceived system complexity while maintaining security flexibility.
Solution Approach 2:
By introducing security level parameters, the system manages complexity through configuration rather than hard-coded complexity. The parameterized approach allows the same underlying authentication mechanism to operate at different complexity levels, reducing the need for multiple separate implementations.
Data Source
AI summary
A method of a portable electronic device providing payment from an electronic wallet is provided. The method comprises prompting for input of a personal identification number (PIN) after the wallet has been opened and providing payment from the wallet after receiving the PIN, when the wallet is configured to a first level of security. The method also comprises providing payment from the wallet after the wallet has been opened, when the wallet is configured to a second level of wallet security, wherein the PIN is not contemporaneously input. The method also comprises providing payment from the wallet when the electronic portable device has been activated, when the wallet is configured to a third level of wallet security, wherein the wallet is not opened and the PIN is not contemporaneously input.