18545852. SYSTEMS AND METHODS FOR CONTACTLESS AND SECURE DATA TRANSFER simplified abstract (Capital One Services, LLC)
Contents
- 1 SYSTEMS AND METHODS FOR CONTACTLESS AND SECURE DATA TRANSFER
- 1.1 Organization Name
- 1.2 Inventor(s)
- 1.3 SYSTEMS AND METHODS FOR CONTACTLESS AND SECURE DATA TRANSFER - 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 CONTACTLESS AND SECURE DATA TRANSFER
Organization Name
Inventor(s)
Matthew Stern of San Francisco CA (US)
Jason Deperro of San Mateo CA (US)
Dan Makoski of Palo Alto CA (US)
SYSTEMS AND METHODS FOR CONTACTLESS AND SECURE DATA TRANSFER - A simplified explanation of the abstract
This abstract first appeared for US patent application 18545852 titled 'SYSTEMS AND METHODS FOR CONTACTLESS AND SECURE DATA TRANSFER
Simplified Explanation
The abstract describes a method and system for confirming transactions using unique identifiers and electronic devices.
- The method involves receiving a unique identifier from an item, sending a communication to an electronic device to confirm a pending transaction, receiving input from the device, and sending the input to an authentication system for transaction completion.
- The system includes a sensor to receive identifiers, an authentication system, and a transaction processing system. The sensor sends communications to electronic devices for additional identifiers, which are then sent to the authentication system.
Potential Applications
This technology could be applied in various industries such as banking, e-commerce, and healthcare for secure transaction verification.
Problems Solved
This technology helps prevent unauthorized transactions by requiring user confirmation through multiple identifiers and electronic devices.
Benefits
The use of unique identifiers and electronic devices enhances transaction security and reduces the risk of fraud.
Potential Commercial Applications
One potential commercial application of this technology could be in the financial sector for secure online banking transactions.
Possible Prior Art
One possible prior art could be two-factor authentication systems used in online banking for additional security measures.
Unanswered Questions
How does this technology handle cases of lost or stolen electronic devices?
In the event of a lost or stolen device, additional security measures such as password protection or remote device wiping could be implemented to prevent unauthorized access.
What are the potential privacy concerns associated with collecting and storing multiple identifiers for transaction verification?
Privacy concerns could arise regarding the storage and use of personal identifiers, requiring strict data protection measures to ensure user privacy and security.
Original Abstract Submitted
In one embodiment, a method comprises receiving a unique identifier from an item and sending a communication to an electronic device requesting that a user confirm a pending transaction, receiving input from the electronic device associated, and sending the received input to an authentication system for completing a transaction. In another embodiment, a system comprises a sensor, an authentication system, and a transaction processing system. The sensor is configured to emit energy and receive at least one first identifier, send at least one communication to an electronic device requesting a second identifier, receive at least one second identifier, and send the at least one first identifier and the at least one second identifier to the authentication system.
