Visa Europe‘s patent involves a method for establishing a relationship between user accounts in an account-based system. The process includes receiving account association requests, identifying account identifiers, and adding account information without revealing sensitive details. The technology aims to facilitate secure transactions between users. GlobalData’s report on Visa Europe gives a 360-degree view of the company including its patenting strategy. Buy the report here.

According to GlobalData’s company profile on Visa Europe, was a key innovation area identified from patents.

Establishing relationships between user accounts based on account identifiers

Source: United States Patent and Trademark Office (USPTO). Credit: Visa Europe Ltd

A recently granted patent (Publication Number: US11928138B2) outlines a method for establishing relationships between user accounts in an account-based system. The method involves receiving account association request messages from user devices, identifying source and target account identifiers, and determining matches between them. The relationship between the accounts is established without revealing sensitive account information, such as bank account details, to the other user. This process involves adding entries for each user account to a list of payees associated with the other user's account. The patent emphasizes the importance of maintaining user privacy and security during the account association process.

Furthermore, the patent details the transmission of account association query messages, identity verification processes, and the use of mobile phones as user devices. The method also involves receiving account identification data, such as email addresses or phone numbers, to facilitate the association between user accounts. The patent extends to apparatus and computer-readable mediums containing instructions for executing the account association method. Overall, the patent aims to streamline the process of linking user accounts in a secure and privacy-conscious manner, particularly in the context of bank accounts. By leveraging communication channels like packet-based networks or cellular networks, the method ensures a seamless and efficient account association process while safeguarding sensitive account information.

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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.