China UnionPay has patented a method and device for transaction clearing involving multiple terminals. The process includes receiving clearing requests, acquiring transaction data, initializing a cache queue, performing a clearing process, and providing feedback to terminals. The method aims to streamline transaction processing efficiently. GlobalData’s report on China UnionPay gives a 360-degree view of the company including its patenting strategy. Buy the report here.

According to GlobalData’s company profile on China UnionPay, Social commerce was a key innovation area identified from patents. China UnionPay's grant share as of January 2024 was 35%. Grant share is based on the ratio of number of grants to total number of patents.

Patent granted for method of transaction clearing using cache queue

Source: United States Patent and Trademark Office (USPTO). Credit: China UnionPay Co Ltd

A recently granted patent (Publication Number: US11887068B2) discloses a method and device for transaction clearing involving the processing of clearing requests from multiple terminals simultaneously. The method includes receiving clearing requests from a quantity N of terminals, acquiring transaction data from a database based on these requests, determining cache queue parameters, initializing the cache queue, parallel-reading transaction data, performing clearing processes, and providing feedback to the terminals. The cache queue is structured as a circular queue with a specific number of cache lines, facilitating efficient data processing by multiple threads. Additionally, the method involves allocating sequence numbers to transaction data and utilizing modulo operations to load data into corresponding cache lines within the circular queue.

Furthermore, the patent describes a device and a non-transitory computer-readable storage medium implementing the aforementioned method for transaction clearing. The device comprises a memory storing program instructions and a processor executing these instructions to handle clearing requests, acquire transaction data, determine cache queue parameters, perform clearing processes, and provide feedback to terminals. The processor is also configured to allocate sequence numbers to transaction data and manage second clearing requests triggered internally after a preset time. Similarly, the storage medium contains program instructions enabling a processor to execute the transaction clearing method efficiently, including loading data into the cache queue, parallel-reading data, and writing clearing results back to the database. Overall, the patent presents a comprehensive approach to transaction clearing, optimizing data processing and feedback mechanisms for multiple terminals simultaneously.

To know more about GlobalData’s detailed insights on China UnionPay, 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.