Wallet Service Provider Transaction Context Verification
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Solution Overview
Problem
Current payment systems face security challenges due to large-scale data breaches and the risk of theft and misuse of payment card account numbers, particularly in environments using magnetic stripe cards, contactless cards, and mobile devices for transactions.
Innovation Solution
A payment network transaction system where a payment-enabled mobile device acts as a credential without storing payment card account numbers, using a wallet service provider to manage digital wallets and facilitate transactions through secure communication channels, ensuring that sensitive information is never shared with the point of sale terminal.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If payment card account numbers are stored in mobile devices or read at point of sale terminals, then payment transactions can be processed, but security risks increase due to potential data breaches and theft
Solution Approach 1:
The patent extracts the payment card account number from the mobile device and the point of sale terminal, keeping it only in the wallet service provider's system. The mobile device contains only a device identifier, and the terminal contains only transaction context data, eliminating the security vulnerability of storing sensitive data at multiple locations while maintaining transaction functionality.
Solution Approach 2:
The wallet service provider acts as an intermediary between the mobile device and the point of sale terminal. It receives the device identifier from the mobile device and transaction context data from the terminal, then retrieves the payment card account number from its own secure storage to complete the transaction, preventing direct exposure of sensitive data.
2Reliability
If a wallet service provider is introduced to manage digital wallets and verify transactions, then security is enhanced, but system complexity increases
Solution Approach 1:
The wallet service provider performs multiple functions within a single system: storing payment card account numbers, receiving device identifiers from mobile devices, receiving transaction context data from terminals, verifying transactions by comparing data, and providing authorization responses. This consolidation of multiple security functions into one universal service reduces overall system complexity while maintaining enhanced security.
Data Source
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AI summary
A first message is received at a wallet service provider. The first message contains transaction detail and transaction context data. A second message is also received at the wallet service provider. The second message contains a copy of the transaction detail data and a copy of the transaction context data. The wallet service provider may verify that the data copies match the original data. One of the messages may be received from a payment-enabled mobile device. The other message may originate from a merchant.