PayPal has been granted a patent for systems and methods that streamline the checkout process for users making purchases on merchant websites. The technology involves capturing user information during a session, using cookies to populate payment information, and allowing for a seamless transaction without requiring the user to log in again. GlobalData’s report on PayPal 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 PayPal, Social commerce was a key innovation area identified from patents. PayPal's grant share as of February 2024 was 58%. Grant share is based on the ratio of number of grants to total number of patents.
Streamlined checkout process using stored payment information
A recently granted patent (Publication Number: US11922485B2) describes a system that streamlines the checkout process for online transactions. The system involves receiving a request for a transaction from a merchant website, retrieving information related to the user's primary and backup funding sources stored in cookies on the device, determining eligibility for streamlined checkout, presenting a user interface with payment information, processing the transaction without requiring the user to log in to their payment account, and redirecting the user back to the merchant website post-transaction. The system aims to enhance user experience by simplifying the checkout process and reducing the steps involved in completing an online transaction.
Furthermore, the patent includes additional features such as masking sensitive information, storing user identification details in cookies, presenting editable user information during checkout, and utilizing a one-page checkout processing service. The system also ensures security and convenience by retrieving payment data associated with the selected funding source and processing the transaction based on this information. By presenting a separate user interface for payment processing, the system aims to provide a seamless and efficient checkout experience for users, ultimately improving the overall online shopping experience. Overall, the patented system offers a novel approach to online transaction processing by leveraging stored information on the device to streamline the checkout process and enhance user convenience during online purchases.
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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.
