Visa has been granted a patent for a method and system for central hub reconciliation, improving reconciliation between buyers and suppliers. The system involves secure communication, data encryption, unique identifier generation, error validation, and access control to a repository for efficient payment processing. GlobalData’s report on Visa gives a 360-degree view of the company including its patenting strategy. Buy the report here.

According to GlobalData’s company profile on Visa, Contactless Card Payments was a key innovation area identified from patents. Visa's grant share as of January 2024 was 41%. Grant share is based on the ratio of number of grants to total number of patents.

Central hub reconciliation system for payment data and remittance data

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

A recently granted patent (Publication Number: US11887079B2) outlines a method for secure communication and data processing between server computers and request realization computers. The method involves providing an API for establishing a secure communication channel, receiving encrypted data files, decrypting them using a decryption key, storing the data in a database with a unique identifier, validating the data, and handling inaccuracies. The server computer generates payment information files for individual payment data, communicates with authorizing entities, formats remittance data, and progressively creates a repository for linking data based on communications with various entities. Access to the repository is granted using the unique identifier, with limitations on data access for different entities.

Furthermore, the patent includes claims related to expunging data files after a predetermined time, providing remittance data to request originating computers, and the structure of the server computer itself. The server computer described in the patent includes a processor and a computer-readable medium with code for executing the method steps outlined in the claims. Additional features include automatic removal of data files after a set time, handling data associated with multiple transactions, and providing access to the repository for various entities involved in the communication process. Overall, the patent details a comprehensive method for secure data processing and communication in a server environment, ensuring efficient handling of remittance and payment data while maintaining data security and access control.

To know more about GlobalData’s detailed insights on Visa, buy the report here.

Premium Insights


The gold standard of business intelligence.

Blending expert knowledge with cutting-edge technology, GlobalData’s unrivalled proprietary data will enable you to decode what’s happening in your market. You can make better informed decisions and gain a future-proof advantage over your competitors.


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.