Notably, the number of ecommerce-related patent applications in the banking & payments industry was 879 in Q1 2023, versus 1,554 in the prior quarter.

The top five companies accounted for 18% of patenting activity

Analysis of patenting activity by companies shows that Coupang filed the most ecommerce patents within the banking & payments industry in Q1 2023. The company filed 83 ecommerce-related patents in the quarter, compared with 139 in the previous quarter. It was followed by Capital One Financial with 25 ecommerce patent filings, China Investment (23 filings), and Toshiba (15 filings) in Q1 2023.

Patenting activity was driven by South Korea with a 19% share of total patent filings

The largest share of ecommerce related patent filings in the banking & payments industry in Q1 2023 was in South Korea with 19%, followed by the US (19%) and China (18%). The share represented by South Korea was 8% higher than the 11% share it accounted for in Q4 2022.

For further understanding of GlobalData's Business to Consumer (B2C) eCommerce Market Size, Share, Trends, and Segment Forecast to 2026 buy the report here.

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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.