Example embodiments of systems and methods for data transmission system between transmitting and receiving devices are provided. In an embodiment, each of the transmitting and receiving devices can contain a master key. The transmitting device can generate a diversified key using the master key, protect a counter value and encrypt data prior to transmitting to the receiving device, which can generate the diversified key based on the master key and can decrypt the data and validate the protected counter value using the diversified key.

A method executed by a processor may include storing account activity data in a database which identifies prior account activities performed by customers in their respective accounts associated with a financial institution. The database may be accessible only by computing systems of the financial institution. A set of challenge questions may be received for authenticating customers to perform high-risk activities in their respective accounts that are based on prior account activities. A machine learning model may be used to determine an authentication score used for ranking each challenge question in the set of challenge questions. An electronic request may be received from an unverified customer who desires to perform high-risk activities in an account. Challenge questions may be selected based on the ranking. The unverified customer may be verified when correctly answering the selected challenge questions. The verified customer may be allowed to perform high-risk activities in the account.

An electronic device is provided. The electronic device includes a first sensor configured to obtain an electromagnetic (EM) signal from an external device, a first communication module configured to provide a magnetic stripe transmission (MST) signal, a processor, and a memory coupled with the processor, wherein the memory is configured to store instructions which, upon execution, instruct the processor to control the first communication module to transmit, to the external device, the MST signal which is predetermined corresponding to the external device based on the obtained EM signal.

Updates to a payment card of the specific card user that will affect subsequent payments to the COF merchants has occurred are detected based on receiving a notification from an issuer processor. In response, payment credentials can be automatically updated with the COF merchants for the specific card user.

A computer-implemented method for verifying cardholder authenticity when provisioning a token is provided. The method uses an authentication server system having a processor and a memory. The method includes receiving, by the processor, a payment card account identifier provided by a payment requestor. The payment card account identifier for identifying a payment account associated with a cardholder. The method also includes determining a plurality of authentication data associated with the payment requestor, and performing an authentication process using the plurality of authentication data. The authentication process is configured to determine if the payment requestor is the cardholder. The method further includes determining an assurance level associated with the authentication process. The assurance level represents a level of confidence in the authentication process. Moreover, the method includes generating a token for the payment account, and storing the token with the payment card account identifier and the assurance level.

This specifications describes techniques for processing transactions. A card reading terminal device associated with an integrated circuit (IC) card issuer identifies an IC card associated with the IC card issuer and associated with a current transaction. The card reading terminal device determines that the IC card satisfies a predetermined credit payment condition. In response to determining that the IC card satisfies the predetermined credit payment condition, the card reading terminal device completes the current transaction. The card reading terminal device generates transaction information associated with the current transaction. The IC card issuer generates a deduction request that includes the transaction information associated with the current transaction. The IC card issuer sends the deduction request to a credit authorizer, wherein the credit authorizer registers a payment account of an IC card holder in advance. The IC card issuer performs a settlement with the credit authorizer for the current transaction.

Embodiments include methods and systems for detecting security risks in network pages, comprising providing at least one secure transaction page to a secure transaction provider, the secure transaction page enabling the secure transaction provider to request secure transactions, determining a request rate for the secure transaction page associated with the secure transaction provider, determining a predetermined threshold for a change in request rate for the secure transaction page by the secure transaction provider, determining that the predetermined threshold, for the change in request rate for the secure transaction page by the secure transaction provider, has been exceeded, and providing a notification to the secure transaction provider based on the determination that the predetermined threshold, for the change in request rate for the secure transaction page by the secure transaction provider, has been exceeded.

A computer implemented method of assessing the probability of fraudulent activity in an account to account payment is provided. The method comprises determining, based on previous credit balance settlement transactions between a first account and a card settlement account, that a first set of payment credentials is associated with the first account. It is determined that a second set of payment credentials are associated with the merchant account. A database comprising historical data indicating details of past payment transactions between the holder of the first set of payment credentials to the holder of the second set of payment credentials is accessed. A fraud probability engine is used to generate, based on the historical data, a fraud probability value for a transaction from a first account to a second account, wherein the fraud probability value is an estimate of the probability of the transaction being fraudulent.

Provided is a computer-implemented method for providing an electronic funds transfer (EFT) based on issuer system requirements that includes receiving an EFT request associated with an account, the EFT request associated with a transfer of an amount of funds to the account, determining whether an issuer system supports the transfer to the account according to a first electronic fund transfer protocol, determining second electronic fund transfer protocol settings data associated with performing the transfer to the account using the second electronic fund transfer protocol based on determining that the issuer system that issued the account of the user does not support the transfer to the account of the user according to the first electronic fund transfer protocol, and processing the transfer to the account in real-time based on the second electronic fund transfer protocol settings data. A system and computer program product are also disclosed.

Arrangements relate to processing financial transactions on an automated teller machine (ATM). An ATM identifier can be presented on a display of the ATM. An ATM identifier confirmation can be received from a mobile computing device. Responsive to determining that the ATM identifier confirmation matches the identifier presented on the display of the ATM, a customer authentication or a transaction request can be received from the mobile computing device. Responsive to verifying the customer authentication or the transaction request, the transaction request can be processed.