View source for Samsung electronics co., ltd. (20240346855). Systems and Methods for Contactless Entries and Payments using Mobile Wallets and Ultra-Wide Band Communications simplified abstract

=Systems and Methods for Contactless Entries and Payments using Mobile Wallets and Ultra-Wide Band Communications=


==Organization Name==

[[:Category:samsung electronics co., ltd.|samsung electronics co., ltd.]]


[[Category:samsung electronics co., ltd.]]

==Inventor(s)==

[[:Category:Erick Wong of Vancouver (CA)|Erick Wong of Vancouver (CA)]][[Category:Erick Wong of Vancouver (CA)]]

[[:Category:Alexi Georgiev Jordanov of Westminster (CA)|Alexi Georgiev Jordanov of Westminster (CA)]][[Category:Alexi Georgiev Jordanov of Westminster (CA)]]

==Systems and Methods for Contactless Entries and Payments using Mobile Wallets and Ultra-Wide Band Communications - A simplified explanation of the abstract==


This abstract first appeared for US patent application 20240346855 titled 'Systems and Methods for Contactless Entries and Payments using Mobile Wallets and Ultra-Wide Band Communications

==Simplified Explanation==
The patent application describes a method using ultra-wide band communication to send location and balance information between two UWB-enabled devices for secure payment transactions.

* Sending location and balance information via UWB communication
* Using the information to perform actions on the second device
* Generating a payment cryptogram for secure payment authorization

==Key Features and Innovation==
* Utilizes ultra-wide band communication protocol for data transfer
* Enables secure payment transactions between UWB-enabled devices
* Incorporates location and balance information for transaction authorization

==Potential Applications==
* Secure mobile payments
* Contactless transactions
* Location-based services

==Problems Solved==
* Ensures secure payment transactions between devices
* Facilitates seamless data transfer for authorization
* Enhances user experience with location-based services

==Benefits==
* Improved security for payment transactions
* Convenient and efficient data transfer between devices
* Enhanced user experience with personalized services

==Commercial Applications==
'''Secure Mobile Payment Technology:''' This innovation can be utilized by financial institutions, mobile payment providers, and retailers to offer secure and convenient payment options to customers.

==Prior Art==
Research into ultra-wide band communication protocols and secure payment technologies can provide insights into similar innovations in the field.

==Frequently Updated Research==
Stay updated on advancements in ultra-wide band communication technology and secure payment protocols to enhance the efficiency and security of transactions.

==Questions about Ultra-Wide Band Communication==
===How does ultra-wide band communication differ from other wireless communication technologies?===
Ultra-wide band communication uses a broad spectrum of frequencies for data transfer, allowing for high data rates and low power consumption compared to traditional wireless technologies.

===What are the potential security risks associated with ultra-wide band communication?===
Ultra-wide band communication can be vulnerable to interference and signal jamming, requiring robust encryption and authentication measures to ensure secure data transfer.


==Original Abstract Submitted==

in one embodiment, a method includes sending, via an ultra-wide band (uwb) communication protocol from a first application associated with a first uwb-enabled device to a second application associated with a second uwb-enabled device, (1) location information indicating a location of the first uwb-enabled device with respect to the second uwb-enabled device and (2) balance information indicating an available monetary balance on the first uwb-enabled device. the second application associated with the second uwb-enabled device may use the location and balance information to perform an action with respect to the second uwb-enabled device. a payment cryptogram may be generated based on event information relating to the action performed with respect to the second uwb-enabled device and unique device characteristics associated with the first uwb-enabled device. the payment cryptogram may be used for securely authorizing a payment transaction relating to the action performed with respect to the second uwb-enabled device.



[[Category:G07B15/00]]
[[Category:G06Q20/32]]
[[Category:G06Q20/38]]
[[Category:CPC_G07B15/00]]