Wearable Device Tokenization with Continuous Biometric Possession Verification
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Solution Overview
Problem
Wearable devices lack secure and convenient authentication methods for transactions, leading to potential misrepresentation and inconvenience in using them for financial transactions.
Innovation Solution
A system that authenticates wearable devices upon initial use and continuously monitors possession using biometric feedback, allowing pre-authenticated transactions with preselected merchants without additional authentication at point-of-sale terminals, utilizing tokens with associated limits for secure and convenient execution.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If additional authentication is required at point-of-sale terminals, then transaction security is improved, but user convenience deteriorates
Solution Approach 1:
The system performs authentication in advance by continuously monitoring biometric feedback (heart rate, body temperature, gait) to verify uninterrupted user possession of the wearable device. This preliminary verification establishes trust before the transaction occurs, allowing the point-of-sale terminal to process payments without requiring additional authentication steps from the user.
Solution Approach 2:
The wearable device acts as an intermediary that carries biometric sensors to continuously monitor user possession. The system uses this intermediate verification mechanism to bridge the gap between security requirements and user convenience, providing proof of possession without requiring direct user interaction at the point of sale.
2Reliability
If continuous possession monitoring is implemented, then authentication reliability is improved, but device complexity increases
Solution Approach 1:
The wearable device leverages existing biometric sensors (heart rate monitors, temperature sensors, motion detectors) that were already designed for health and fitness tracking. By repurposing these universal sensors for authentication purposes, the system achieves reliable possession verification without adding dedicated complex authentication hardware.
Solution Approach 2:
The system uses the user's own biometric data (heart rate, body temperature, gait patterns) to verify possession. The wearable device automatically collects and transmits this data without requiring user input or additional components, allowing the authentication system to serve itself using readily available physiological information.
Data Source
AI summary
Embodiments of the invention are directed to systems, methods, and computer program products for tokenization and token selection associated with wearable device transactions. The system is configured to receive an indication that a user is in possession of the wearable device; authenticate the wearable device; receive an indication from the user to execute a transaction; determine that the user continues to remain in possession of the wearable device; and complete execution of the transaction; initiate execution of the transaction using the first token received from the user; determine a second token based on at least the transaction information and the one or more limits associated with the second token; swapping the first token with the second token; and execute the transaction using one or more financial institution accounts of the user associated with the second token.