Apple inc. (20240330921). END-TO-END CREDENTIAL PROVISIONING AND TRANSACTION AUTHORIZATION simplified abstract

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END-TO-END CREDENTIAL PROVISIONING AND TRANSACTION AUTHORIZATION

Organization Name

apple inc.

Inventor(s)

Abde N. Faruqui of San Jose CA (US)

END-TO-END CREDENTIAL PROVISIONING AND TRANSACTION AUTHORIZATION - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240330921 titled 'END-TO-END CREDENTIAL PROVISIONING AND TRANSACTION AUTHORIZATION

The subject system described in the abstract involves a processor circuit that receives a payment credential request from a user device, which includes a requested amount and indicates a product type. In response to this request, the system provides a payment credential and a payment account associated with a balance corresponding to the requested amount. It then receives an indication of an authorization amount and the payment credential from a merchant system, authorizes the payment based on the balance associated with the payment account, and updates the balance accordingly.

  • Processor circuit receives payment credential request from user device
  • Provides payment credential and payment account based on product type
  • Receives indication of authorization amount from merchant system
  • Authorizes payment based on balance associated with payment account
  • Updates balance based on authorization amount

Potential Applications: - Secure online payment systems - Mobile payment applications - E-commerce platforms

Problems Solved: - Streamlining payment processes - Enhancing security of payment transactions - Improving user experience in making payments

Benefits: - Efficient payment authorization - Enhanced security measures - Seamless user experience

Commercial Applications: Title: Secure Payment Processing System for E-commerce Platforms This technology can be utilized by online retailers, payment service providers, and financial institutions to streamline payment processes, enhance security, and improve user satisfaction in online transactions.

Questions about the technology: 1. How does the system ensure the security of payment credentials and accounts? 2. What measures are in place to prevent unauthorized access to payment information?

Frequently Updated Research: Stay updated on the latest advancements in secure payment processing systems, online payment trends, and cybersecurity measures to protect payment transactions.


Original Abstract Submitted

the subject system may be implemented by a processor circuit configured to receive a payment credential request from a user device, wherein the payment credential request comprises a requested amount and indicates a product type, provision, in response to the payment credential request and based at least in part on the product type, a payment credential and a payment account corresponding to the payment credential, wherein the payment account is associated with a balance corresponding to the requested amount, receive, from a merchant system, an indication of an authorization amount and the payment credential, authorize, based at least in part on the balance associated with the payment account, payment of the authorization amount to the merchant system, in response to receiving the indication, and update the balance associated with the payment account based at least in part on the authorization amount, in response to authorizing the payment.