The technology industry continues to be a hotbed of innovation, with activity driven by the need for stronger and more comprehensive cybersecurity measures to protect against cyber threats and attacks, and growing importance of technologies such as EMV chip technology, tokenisation platforms, mobile payment technologies and encryption technologies in securing digital transactions and protecting sensitive payment card information. EMV tokenisation may also use biometric authentication technologies such as fingerprint or facial recognition, to provide an additional layer of security. In the last three years alone, there have been over 3.6 million patents filed and granted in the technology industry, according to GlobalData’s report on Innovation in Cybersecurity: EMV tokenisation. Buy the report here.

However, not all innovations are equal and nor do they follow a constant upward trend. Instead, their evolution takes the form of an S-shaped curve that reflects their typical lifecycle from early emergence to accelerating adoption, before finally stabilising and reaching maturity.

Identifying where a particular innovation is on this journey, especially those that are in the emerging and accelerating stages, is essential for understanding their current level of adoption and the likely future trajectory and impact they will have.

300+ innovations will shape the technology industry

According to GlobalData’s Technology Foresights, which plots the S-curve for the technology industry using innovation intensity models built on over 2.5 million patents, there are 300+ innovation areas that will shape the future of the industry.

Within the emerging innovation stage, byzantine fault tolerant blockchain, secure multi-party computing and decentralized identity framework are disruptive technologies that are in the early stages of application and should be tracked closely. Secure hash algorithms (SHA), zero knowledge proof, and private blockchains are some of the accelerating innovation areas, where adoption has been steadily increasing. Among maturing innovation areas are firmware security and multimedia signal encryption, which are now well established in the industry.

Innovation S-curve for cybersecurity in the technology industry

EMV tokenisation is a key innovation area in cybersecurity

EMV tokenisation is a payment security technique employed to conceal sensitive credit and debit card details. Rather than employing the conventional 16-digit card number, a token, which is a randomly generated sequence of numbers, is utilised as a substitute to represent the card data. This method enhances the difficulty for hackers to access the genuine card information and makes it more challenging to utilise the data in case of unauthorised acquisition.

GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 460+ companies, spanning technology vendors, established technology companies, and up-and-coming start-ups engaged in the development and application of EMV tokenisation.

Key players in EMV tokenisation – a disruptive innovation in the technology industry

‘Application diversity’ measures the number of different applications identified for each relevant patent and broadly splits companies into either ‘niche’ or ‘diversified’ innovators.

‘Geographic reach’ refers to the number of different countries each relevant patent is registered in and reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.

Patent volumes related to EMV tokenisation

Company Total patents (2010 - 2022) Premium intelligence on the world's largest companies
Visa 2023 Unlock Company Profile
Mastercard 1579 Unlock Company Profile
SoftBank Group 1274 Unlock Company Profile
nChain 798 Unlock Company Profile
Capital One Financial 489 Unlock Company Profile
Bizmodeline 423 Unlock Company Profile
Tencent 400 Unlock Company Profile
PayPal 376 Unlock Company Profile
Samsung Group 337 Unlock Company Profile
Apple 234 Unlock Company Profile
International Business Machines (IBM) 225 Unlock Company Profile
Microsoft 212 Unlock Company Profile
Bank of America 202 Unlock Company Profile
Licentia Group 155 Unlock Company Profile
JPMorgan Chase 153 Unlock Company Profile
American Express 149 Unlock Company Profile
Toronto-Dominion Bank 146 Unlock Company Profile
Alphabet 143 Unlock Company Profile
Worldline 134 Unlock Company Profile
eBay 131 Unlock Company Profile
Coinplug 128 Unlock Company Profile
Black Gold Coin 128 Unlock Company Profile
Hangzhou FUZAMEI Technology 122 Unlock Company Profile
China UnionPay 121 Unlock Company Profile
China Investment 119 Unlock Company Profile
Ping An Insurance 118 Unlock Company Profile
Huawei Investment & Holding 117 Unlock Company Profile
AB Dynamics 115 Unlock Company Profile
SSenStone 114 Unlock Company Profile
Thales 110 Unlock Company Profile
Memjet Technology 110 Unlock Company Profile
Block 97 Unlock Company Profile
Ipco 2012 93 Unlock Company Profile
Dominion Harbor Enterprises 91 Unlock Company Profile
Sony Group 90 Unlock Company Profile
Fidelity National Information Services 87 Unlock Company Profile
Broadcom 79 Unlock Company Profile
Diebold Nixdorf 76 Unlock Company Profile
SK Telecom 72 Unlock Company Profile
MC Familiengesellschaft 69 Unlock Company Profile
Accenture 69 Unlock Company Profile
Fiserv 67 Unlock Company Profile
Intel 66 Unlock Company Profile
VeriFone 66 Unlock Company Profile
Nokia 64 Unlock Company Profile
Baidu 62 Unlock Company Profile
Gelliner 62 Unlock Company Profile
Stripe 61 Unlock Company Profile
Qualcomm 61 Unlock Company Profile
Intuit 57 Unlock Company Profile

Source: GlobalData Patent Analytics

Visa is a leading patent filer in EMV tokenisation. The company’s patents are aimed at describing a method and a server computer for authenticating a cardholder account. The server computer implements the method, which includes obtaining a first identifier and a cryptogram from a first entity, identifying an issuer associated with the cardholder account, forwarding the first account identifier and the cryptogram to a second entity for validation, receiving a second identifier from the second entity, and sending the second identifier to the first entity.

The first identifier can be associated with the cardholder account. The second identifier can be generated by the second entity and associated with a validated form of the first identifier.

Other prominent patent filers in the space include Mastercard and SoftBank Group.

By geographic reach, Black Gold Coin leads the pack, followed by Apple and Keypasco. In terms of application diversity, holds the top position, followed by Memjet Technology and

EMV tokenisation helps enhance payment security by protecting sensitive card information. It reduces the risk of fraud and unauthorised access, instilling customer trust, and ensuring secure and seamless transactions in both physical and digital payment environments.

To further understand how cybersecurity is disrupting the technology industry, access GlobalData’s latest thematic research report on Cybersecurity – Thematic Research.

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

GlobalData’s Patent Analytics tracks patent filings and grants from official offices around the world. 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.