Fiserv has been granted a patent for systems and methods enabling dynamic creation of virtual-cart enabled purchasing in-store, with automated product recommendations. The technology involves receiving a user identifier, creating a mirror-cart, generating an invoice, transferring it to the point of sale terminal, and tracking payment confirmation. GlobalData’s report on Fiserv gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on Fiserv, Virtual banking assistant was a key innovation area identified from patents. Fiserv's grant share as of January 2024 was 40%. Grant share is based on the ratio of number of grants to total number of patents.
Automated virtual-cart enabled purchasing with product recommendation in-store
A recently granted patent (Publication Number: US11887181B2) discloses a system and method for streamlining the shopping experience at retail locations. The patent describes a non-transitory computer-readable media containing instructions that, when executed by processors, facilitate the creation of user accounts, mirror-carts, and invoices for items selected by users. The system automatically generates a user account and mirror-cart upon receiving a unique user identifier, allowing users to add items for purchase. An invoice is generated based on the selected items, and users can request checkout, with the system identifying a point of sale terminal for payment. Upon payment confirmation, the mirror-cart is deleted, simplifying the shopping process.
Furthermore, the patent details additional features such as identifying the optimal point of sale terminal based on user location or traffic, allowing users to remove items from the mirror-cart, suggesting additional items for purchase, and even predicting recipes based on selected items. The system aims to enhance the shopping experience by providing a seamless and efficient process for users at retail locations. By automating account creation, cart management, and payment processes, the system reduces user input and streamlines the checkout process, ultimately improving overall user satisfaction and convenience during shopping activities.
To know more about GlobalData’s detailed insights on Fiserv, buy the report here.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
