Visa has been granted a patent for a method involving receiving a token, device identifier, session identifier, and metadata from a processing network computer. The method includes processing an authorization request message using the token and metadata. The innovation aims to enhance security and efficiency in processing transactions. GlobalData’s report on Visa 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 Visa, Contactless Card Payments was a key innovation area identified from patents. Visa's grant share as of May 2024 was 28%. Grant share is based on the ratio of number of grants to total number of patents.
Token-based authorization method for user device registration
A recently granted patent (Publication Number: US12003500B2) outlines a method and system for secure token-based authorization processes. The method involves a record server computer receiving a token, device identifier, session identifier, and metadata from a processing network computer. Subsequently, upon receiving a metadata request from another processing network computer, the record server retrieves and provides the metadata for processing authorization requests. The system includes a record server computer with executable code for these operations, ensuring secure and efficient authorization processes.
Furthermore, the patent details various aspects of the method, such as transaction controls associated with the token, registration requests including public and private key pairs, and the use of random session identifiers. The method also involves communication between access devices, user devices like mobile phones, and processing network computers. Additionally, the record server computer manages data tables and blockchains correlating tokens and metadata, enhancing the security and reliability of the authorization process. The system includes the first processing network computer, ensuring seamless integration and functionality within the network for a comprehensive and secure authorization framework.
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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.
