Ingenico has been granted a patent for a method of conducting financial transactions using a user’s terminal to benefit a merchant. The method involves receiving the merchant’s identifier and transaction amount, generating a transaction, and transmitting it to a transaction management server without revealing the user’s bank account information. GlobalData’s report on Ingenico gives a 360-degree view of the company including its patenting strategy. Buy the report here.

According to GlobalData’s company profile on Ingenico, was a key innovation area identified from patents. Ingenico's grant share as of February 2024 was 36%. Grant share is based on the ratio of number of grants to total number of patents.

Method for carrying out financial transactions using user terminal

Source: United States Patent and Trademark Office (USPTO). Credit: Ingenico SA

A recently granted patent (Publication Number: US11907918B2) outlines a method for conducting transactions with a merchant terminal using a user terminal. The method involves receiving the merchant's identifier and offer identification through various interfaces such as scanning a code with the camera, Bluetooth interface, or contactless interface of the user terminal. The user terminal decodes the received information, including the transaction amount, and generates a credit transaction. This transaction includes location data obtained from a GPS device or mobile network, encrypted using a secured processor, and transmitted to a third-party transaction management server. Importantly, the user's bank account data is not shared with the merchant or their terminal, ensuring privacy and security.

Furthermore, the patent includes details about the user terminal's configuration, which includes interfaces like a camera, Bluetooth, or contactless interface, along with a non-transitory computer-readable medium and a processor. The user terminal is capable of decoding information, generating credit transactions, and transmitting them to the transaction management server securely. The method also involves testing the validity of the offer based on the location of the user terminal concerning the offer's associated place. Additionally, the transaction management server can identify the merchant terminal using the decoded merchant's identifier, enhancing the security and efficiency of the transaction process outlined in the patent.

To know more about GlobalData’s detailed insights on Ingenico, buy the report here.

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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.

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.