Shift4 Payments has been granted a patent for a system that securely accesses protected data using tokens. The system involves a token retriever and detokenization system to verify and transmit encrypted data, ensuring authorized access. The account number is displayed for a limited time, enhancing security measures. GlobalData’s report on Shift4 Payments 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 Shift4 Payments, Transaction splitting was a key innovation area identified from patents. Shift4 Payments's grant share as of February 2024 was 81%. Grant share is based on the ratio of number of grants to total number of patents.
Secure system for accessing protected data using tokenization
A recently granted patent (Publication Number: US11875328B2) discloses a system for accessing protected data that involves a token retriever system and a detokenization system. The token retriever system, operating on a first processor, receives an encrypted data token from a device and transmits a request with the token and a source identifier to the detokenization system. The detokenization system, on a second processor, responds with an account number associated with the token if the request is from an authorized source, checking the source identifier. The system ensures security by displaying the account number for a set time and showing an error if the request is unauthorized. Additionally, the detokenization system includes features like a limit system, terminal management system, and security access system to enhance functionality and security.
Furthermore, the patent also covers a method for accessing protected data, detailing steps like receiving a token, transmitting requests, and displaying account numbers. The method includes additional processes such as determining authorized users, modifying detokenization procedure limits, and interfacing with terminal management systems for authentication. The patent also extends to a processor with digital code stored in memory, enabling the processor to perform the method for accessing protected data. The digital code facilitates functions like user authentication, limit modifications, and interfacing with terminal management systems, ensuring a comprehensive approach to secure data access. Overall, the patent outlines a robust system and method for accessing protected data with a focus on security and efficiency through various system components and processes.
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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.
