Samsung electronics co., ltd. (20240346855). Systems and Methods for Contactless Entries and Payments using Mobile Wallets and Ultra-Wide Band Communications simplified abstract
Contents
- 1 Systems and Methods for Contactless Entries and Payments using Mobile Wallets and Ultra-Wide Band Communications
- 1.1 Organization Name
- 1.2 Inventor(s)
- 1.3 Systems and Methods for Contactless Entries and Payments using Mobile Wallets and Ultra-Wide Band Communications - A simplified explanation of the abstract
- 1.4 Simplified Explanation
- 1.5 Key Features and Innovation
- 1.6 Potential Applications
- 1.7 Problems Solved
- 1.8 Benefits
- 1.9 Commercial Applications
- 1.10 Prior Art
- 1.11 Frequently Updated Research
- 1.12 Questions about Ultra-Wide Band Communication
- 1.13 Original Abstract Submitted
Systems and Methods for Contactless Entries and Payments using Mobile Wallets and Ultra-Wide Band Communications
Organization Name
Inventor(s)
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.
