Toronto-Dominion Bank has filed a patent for a method of providing contactless payments at a point of sale terminal. The method involves displaying a machine-readable code at the terminal, which encodes a web address. When a device scans the code and sends a request to the web address, the device is prompted to input information required to complete the transaction. The response to the prompt is then sent to the terminal, allowing for the completion of the transaction using a physical token. The patent also includes a claim for a server that enables touchless payment and allows customers to add an optional amount to the transaction using a physical token. GlobalData’s report on Toronto-Dominion Bank gives a 360-degree view of the company including its patenting strategy. Buy the report here.
According to GlobalData’s company profile on Toronto-Dominion Bank, blockchain-based gaming platforms was a key innovation area identified from patents. Toronto-Dominion Bank's grant share as of June 2023 was 1%. Grant share is based on the ratio of number of grants to total number of patents.
Contactless payment method using a physical token
A recently filed patent (Publication Number: US20230206212A1) describes a server that enables touchless payment at point-of-sale terminals. The server includes a communications module, a processor, and a memory storing processor-executable instructions. When executed, these instructions configure the server to receive an indication of the transaction amount from a point-of-sale terminal. Based on the transaction amount, the server determines if touchless payment is available. If touchless payment is available, the server enables the use of a customer device for inputting an optional amount to be added to the transaction, which will be processed using a physical token at the point-of-sale terminal.
In one embodiment, the server causes the point-of-sale terminal to display a machine-readable code, such as a QR code, which encodes a web address. This code can also encode the transaction amount, a transaction identifier, a hash and digital signature for verification, and random data to prevent replay attacks. The server can also receive indications of further transactions and determine if touchless payment is available for those transactions. If touchless payment is not available, the server disables the use of the customer device for inputting an optional amount.
The physical token used for processing the transaction can include a payment card or a mobile device with a representation of a payment card stored on it. Additionally, the server can receive requests for input from the point-of-sale terminal and send indications of the input back to the terminal.
Overall, this patent describes a server that enables touchless payment at point-of-sale terminals by allowing customers to use their own devices for inputting optional amounts to be added to transactions. This technology aims to enhance the convenience and flexibility of touchless payment methods.
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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.
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