An identification system uses a local cache for performing identifications. An identity system device may store identity information and identification information. An electronic device stores a cache of a portion of the identity information and a part of the identification information. The electronic device receives user input, determines an identity by comparing the user input to the cached identification information (such as by comparing a received digital representation of a biometric with cached biometric identification information), and performs an action using information in the cached identity information that is associated with the identity. The electronic device may update the identity information stored by the identity system device based on the action.

Systems and methods for performing fraud detection at POA devices based on analysis of feature sets are disclosed. In one embodiment, an exemplary method may comprise: obtaining, by a POS device, upon initiation of a transaction involving a card or a card and mobile device associated with an individual initiating the transaction, one or more sensory inputs and an identifier; mapping, by the POS device, the one or more sensory inputs to a first cluster position of a plurality of clusters; determining whether the cluster position of the cluster mapped for the transaction corresponds to a second cluster position of the at least one expected cluster associated with the known owner of the card and/or mobile device; and initiating, by the POS device, at least one second factor authentication process to establish that the individual is the known owner of the card and/or mobile device being used in the transaction.

A fraud detection system that converts personal identification information into an irreversible code, acquires transaction information that includes transaction terminal identification information, stores the acquired transaction information in a transaction information storage unit, and calculates a respective transaction estimation value for a future transaction for each transaction terminal and each irreversible code, on the basis of the transaction information stored in the transaction information storage unit. When new transaction information is acquired the fraud detection system calculates a degree of deviation for the new transaction information on the basis of the transaction estimation value for the irreversible code and the transaction estimation value for the transaction terminal which are in accordance with the transaction terminal identification information included in the new transaction information, and outputs alert information when the degree of deviation is large.

A computer-implemented method and device for secure checkout in a retail environment such as at a point of sale location in a store. Each of a customer and a sales associate at the point of sale operate respective mobile communication devices that are equipped to exchange signals and receive the same from one another. The sales associate device sends, inter alia, a physical signal causing the customer device to link to a payment application and server, which is followed by a sequence of authentication steps enabled by a physical authentication unit on the customer's device to ensure and confirm authenticated secure transactions.

A method and system for transaction validation in a distributed computing system, the method including: associating first and second parameters with respective users of the distributed computing system, the first parameter being determined based on an increment for each validation performed by a respective user and a decrement for each transaction validation performed by the respective user, the second parameter being determined based on a transaction history and a validation history of the respective users; and associating respective validation priorities in respect of performing a validation task with members of a first set of validating users having at least one of the validating users other than the first of the users, the respective validation priorities being determined based on the first and second parameters associated with the members of the first set of validating users, the validation task comprising validation of the transaction

A computing system includes one or more processors and one or more computer-readable storage media communicatively connected to the one or more processors and having instructions stored thereon that, when executed, causes the one or more processors to receive a request from a user device to initiate an electronic transaction to a beneficiary, identify a risk associated with the beneficiary, calculate a risk score for the electronic transaction based on the risk, transmit a notification to the user device, wherein the notification causes display of one or more mitigation activities for reducing the risk, receive data from the user device associated with the one or more mitigation activities, compare the data with information corresponding to the beneficiary stored in a data store, recalculate the risk score based on the comparison, and transmit an electrical signal to the user device to cause the display of a result of the recalculation.

The present disclosure relates to knowledge based authentication whereby a user is authenticated through third-party linked accounts. The method includes receiving an authentication request from a merchant computer, assessing one or more data fields to generate an authentication challenge for the user, connecting to one or more third-party account service provider to extract user-related data, generating the authentication challenge based on the extracted user-related data from the third-party account service provider, posing the authentication challenge to the user on a user device, receiving a response to the authentication challenge, and returning the authentication response to the merchant.

A cryptocurrency system that enables to verify the origin of a cryptocurrency is provided. A cryptocurrency system includes: at least one terminal; and a plurality of management servers configured to manage a blockchain storing a trading history in a cryptocurrency. The at least one terminal includes a trading control section, and a transmission section. The trading control section is configured to generate a transaction including a first signature for a trading content and a second signature enabling to verify a validity of a remittance source address described in the trading content. The transmission section is configured to transmit the generated transaction to the plurality of management servers.

A method for secured receipt and usage of payment credentials using a commercial-off-the-shelf (COTS) device includes: storing, in the COTS device, a secure application program and cryptographic keys; establishing, by the program, a secure communication channel with a back-end system inaccessible by any application program or component in the COTS device; exchanging attestation data between the program and the back-end system using the communication channel; receiving payment credentials from a payment card by a near field communication (NFC) interface in the COTS device; transmitting the payment credentials to the program by the NFC interface; enciphering, by the program, the payment credentials; and transmitting, by the program of the COTS device, the enciphered payment credentials to the back-end system using the secure communication channel.

Disclosed herein are system, method, and computer program product embodiments describing the creation and funding of tax-advantaged accounts at a point of sale/service of a qualifying expense. The disclosure presents verifying the identity of the recipient of the qualifying expense, confirming an initial contribution, and creating a tax-advantaged account on behalf of the individual. The disclosure further presents funding the tax-advantaged account with the initial contribution and subsequently generating a bank transaction wherein the tax-advantaged account transfers the cost of the qualifying expense to the provider.