20240020658. METHODS AND SYSTEMS FOR PERFORMING SECURE TRANSACTIONS ASSOCIATED WITH INSTRUCTIONS RECEIVED IN NATURAL LANGUAGE FORM simplified abstract (Mastercard International Incorporated)

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METHODS AND SYSTEMS FOR PERFORMING SECURE TRANSACTIONS ASSOCIATED WITH INSTRUCTIONS RECEIVED IN NATURAL LANGUAGE FORM

Organization Name

Mastercard International Incorporated

Inventor(s)

Peeyush Bansal of New Delhi (IN)

Avinash Kumar of Bokaro (IN)

Rishabh Mehra of Ghaziabad (IN)

METHODS AND SYSTEMS FOR PERFORMING SECURE TRANSACTIONS ASSOCIATED WITH INSTRUCTIONS RECEIVED IN NATURAL LANGUAGE FORM - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240020658 titled 'METHODS AND SYSTEMS FOR PERFORMING SECURE TRANSACTIONS ASSOCIATED WITH INSTRUCTIONS RECEIVED IN NATURAL LANGUAGE FORM

Simplified Explanation

The abstract describes a method and system for facilitating scheduled payment transactions to users through an application on their device. The server system receives a transaction request message from the user device, which includes a scheduled transaction instruction in natural language format. The user is authenticated based on multiple authentication factors provided at pre-defined time intervals. The server system can train a data model using machine learning algorithms to automatically authenticate the user. Once authenticated, the transaction request message is parsed to determine the scheduled transaction instruction, and the scheduled transaction is processed accordingly.

  • The system facilitates scheduled payment transactions to users through an application on their device.
  • The user provides a transaction request message with a scheduled transaction instruction in natural language format.
  • The user is authenticated based on multiple authentication factors provided at pre-defined time intervals.
  • The server system can train a data model using machine learning algorithms to automatically authenticate the user.
  • The transaction request message is parsed to determine the scheduled transaction instruction.
  • The scheduled transaction is processed based on the instruction.

Potential Applications:

  • Mobile banking applications that allow users to schedule and automate recurring payments.
  • Personal finance management applications that help users manage their bills and expenses by scheduling payments.
  • E-commerce platforms that offer scheduled payment options for customers.

Problems Solved:

  • Simplifies the process of scheduling and processing payment transactions for users.
  • Reduces the need for manual authentication by automatically authenticating users based on multiple factors.
  • Provides a natural language interface for users to input scheduled transaction instructions.

Benefits:

  • Convenient and efficient way for users to schedule and manage their payment transactions.
  • Enhanced security through multiple authentication factors and machine learning-based authentication.
  • Improved user experience with a natural language interface for transaction instructions.


Original Abstract Submitted

embodiments provide methods and systems for facilitating scheduled payment transactions to users via an application provided by the server system, the application available on the user device. the method performed by the server system includes receiving a transaction request message from the user device, the transaction request message includes scheduled transaction instruction provided by the user in natural language format. the method includes authenticating the user based on a plurality of user authentication factors received from the user at pre-defined time intervals. in an embodiment, the server system is configured to train a data model using ml algorithms by learning the plurality of user authentication factors based on which the user is automatically authenticated by the server system. upon successful authentication, the method includes parsing the transaction request message to determine a scheduled transaction instruction. the method includes facilitating, processing of the scheduled transaction based on the scheduled transaction instruction.

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