Wearable NFC Payment Ring for Secure, Low-Burden Transactions
Find Innovative SolutionsGenerate Solutions
Solution Overview
Problem
Existing NFC payment systems face challenges in ensuring secure, efficient, and reliable communication of sensitive payment data while minimizing user burden during transactions.
Innovation Solution
A wearable payment device, such as a finger ring, is used to facilitate NFC communication with payment terminals, utilizing active or passive load modulation and incorporating tuning mechanisms for antennas to optimize signal performance, along with optional interaction through a user's smartphone for additional functionality.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If NFC devices are used for financial transactions, then payment data communication is enabled, but security and reliability of sensitive information transmission is compromised
Solution Approach 1:
The patent implements nested encryption layers where payment data is encrypted multiple times with different keys at different levels. The payment terminal and server use hierarchical key structures where outer layers are decrypted first to reveal inner layers, creating a nested security architecture that enhances reliability without requiring a single complex system
Solution Approach 2:
The patent introduces payment data as an intermediary element that carries encrypted information between the NFC device, payment terminal, and server. This intermediary structure allows secure transmission by separating the actual payment information from the communication channel, enabling reliable data transfer through multiple parties without exposing sensitive information
2Ease of operation
If traditional payment devices are used, then payment transactions can be completed, but user convenience is reduced due to the need to locate and operate the device
Solution Approach 1:
The patent implements automatic authentication and payment initiation where the NFC device automatically transmits payment data when brought near the payment terminal. The system performs self-service functions including automatic device selection, authentication token generation, and transaction initiation without requiring user navigation through menus or manual input, eliminating the time loss associated with locating and operating traditional payment devices
Solution Approach 2:
The patent pre-generates authentication tokens and stores payment data in ready-to-transmit format within the NFC device. This preliminary preparation allows the device to immediately initiate transactions when activated, eliminating the need for users to perform setup actions or locate specific functions during the payment moment, thereby improving ease of operation and reducing time loss
Applied Scientific Principles
This section explains which scientific principles are used to turn an abstract innovation direction into a practical engineering solution.
Function Achieved in This Case
Enhances security and efficiency of payment transactions by reducing user inconvenience and ensuring reliable data transfer, encouraging wider adoption of contactless payment methods.
Implementation Method 1
Load modulation is often used to communicate data. In this regard, the reader may transmit a wireless carrier signal, and the NFC device may change the impedance of its antenna circuit in order to modulate the carrier signal with data.
Implementation Method 2
The reader detects and demodulates the modulated signal in order to recover the data.
Implementation Method 3
Near field communication (NFC) devices are increasingly used in a variety of applications to communicate data. In NFC communication, a first NFC device is positioned sufficiently close (e.g., a few inches or less) to another NFC device, such as an NFC reader, so that the devices are inductively coupled.
Data Source
AI summary
A wearable device, such as a finger ring worn by a user, communicates information about a user to a reader that uses the information in order to perform a transaction. Such wearable device may be conveniently carried by and accessible to the user such that utilization of the device for the transaction is less burdensome for the user, thereby encouraging use of the device for particular transactions. Indeed, in some cases, such as when the device is implemented as a finger ring or other type of jewelry, the user may be encouraged to carry the device in an exposed manner such that it is readily available for the transaction without the user having to search in a wallet, pocket, or purse for the device.