18523152. SYSTEMS AND METHODS FOR DYNAMIC INCLUSION OF ENHANCED DATA IN TRANSACTIONS simplified abstract (JPMORGAN CHASE BANK, N.A.)
Contents
- 1 SYSTEMS AND METHODS FOR DYNAMIC INCLUSION OF ENHANCED DATA IN TRANSACTIONS
- 1.1 Organization Name
- 1.2 Inventor(s)
- 1.3 SYSTEMS AND METHODS FOR DYNAMIC INCLUSION OF ENHANCED DATA IN TRANSACTIONS - A simplified explanation of the abstract
- 1.4 Simplified Explanation
- 1.5 Potential Applications
- 1.6 Problems Solved
- 1.7 Benefits
- 1.8 Potential Commercial Applications
- 1.9 Possible Prior Art
- 1.10 Unanswered Questions
- 1.11 Original Abstract Submitted
SYSTEMS AND METHODS FOR DYNAMIC INCLUSION OF ENHANCED DATA IN TRANSACTIONS
Organization Name
Inventor(s)
Howard Spector of Street MD (US)
Allison Beer of Bronxville NY (US)
Craig M. Mullaney of Newark DE (US)
Vimal Brahmbhatt of Middletown DE (US)
Brent Samuels of Avondale PA (US)
SYSTEMS AND METHODS FOR DYNAMIC INCLUSION OF ENHANCED DATA IN TRANSACTIONS - A simplified explanation of the abstract
This abstract first appeared for US patent application 18523152 titled 'SYSTEMS AND METHODS FOR DYNAMIC INCLUSION OF ENHANCED DATA IN TRANSACTIONS
Simplified Explanation
The patent application describes systems and methods for dynamic inclusion of enhanced data in transactions, specifically focusing on conducting mobile wallet payments with dynamic enhanced data using a mobile payment application.
- Receiving transaction requests from a merchant point of transaction device via a mobile payment application executed on a mobile electronic device.
- Processing the transaction request based on the payment option selection provided.
Potential Applications
This technology could be applied in various industries such as retail, e-commerce, and financial services for secure and efficient mobile wallet payments with enhanced data.
Problems Solved
1. Enhancing the security and efficiency of mobile wallet payments. 2. Providing a seamless transaction experience for users and merchants.
Benefits
1. Improved transaction security with dynamic enhanced data. 2. Streamlined payment process for users and merchants. 3. Enhanced user experience with mobile wallet payments.
Potential Commercial Applications
Optimizing Mobile Wallet Payments with Dynamic Enhanced Data
Possible Prior Art
No prior art information is available at this time.
Unanswered Questions
How does the technology handle different types of financial instruments within the mobile wallet application?
The patent application does not specify how the system manages various financial instruments provisioned to the mobile wallet application.
What measures are in place to protect the privacy and security of user data during transactions?
The patent application does not detail the specific security measures implemented to safeguard user data during mobile wallet payments.
Original Abstract Submitted
Systems and methods for dynamic inclusion of enhanced data in transactions are disclosed. According to another embodiment, in an information processing apparatus comprising at least one computer processor, a method for conducting a mobile wallet payment with dynamic enhanced data using a mobile payment application may include: (1) receiving, from a merchant point of transaction device, a transaction request from a mobile payment application executed by a mobile electronic device, the transaction request comprising a unique identifier for a financial instrument provisioned to a mobile wallet computer application and a payment option selection; and (2) processing the transaction request according to the payment option selection.
