18394350. Direct Settlement of Hands-Free Transactions simplified abstract (Google LLC)
Contents
Direct Settlement of Hands-Free Transactions
Organization Name
Inventor(s)
Steven Dieter of Superior CO (US)
Pramod Adiddam of Sunnyvale CA (US)
Amit Litsur of Portola Valley CA (US)
Yangui Tao of Cupertino CA (US)
Denise Ho of Los Altos CA (US)
Varouj Chitilian of Hillsborough CA (US)
Direct Settlement of Hands-Free Transactions - A simplified explanation of the abstract
This abstract first appeared for US patent application 18394350 titled 'Direct Settlement of Hands-Free Transactions
The hands-free transaction described in the patent application involves utilizing an account management system to authorize a transaction and provide payment account information to a payment processing system, allowing settlement between the payment processing system and the merchant.
- Account management system authorizes transaction and provides payment account information.
- Payment settlement occurs between payment processing system and merchant.
- POS device generates payment authorization request based on user verification and transaction information.
- Account management system identifies user payment data and transmits payment authorization.
- Merchant completes transaction with user, providing product or service.
- Payment processing system and merchant system settle transaction without involvement of account management system.
Potential Applications: - Retail transactions - Online purchases - Contactless payments
Problems Solved: - Streamlining payment processes - Enhancing security of transactions - Improving user experience
Benefits: - Faster transactions - Secure payments - Convenient shopping experience
Commercial Applications: Title: "Efficient Hands-Free Transaction System for Retail and Online Payments" This technology can be applied in retail stores, e-commerce platforms, and other businesses to streamline payment processes and enhance customer satisfaction.
Prior Art: Further research can be conducted in the field of payment processing systems and account management technologies to explore prior art related to hands-free transactions.
Frequently Updated Research: Stay updated on advancements in payment technologies, user verification methods, and transaction security protocols to enhance the efficiency and security of hands-free transactions.
Questions about Hands-Free Transactions: 1. How does the account management system verify the user's payment data? 2. What are the key security measures in place to protect hands-free transactions?
Original Abstract Submitted
A hands-free transaction is processed by utilizing an account management system to authorize a transaction and to provide payment account information to a payment processing system while allowing the transaction settlement to occur between the payment processing system and the merchant. After the account of the user is verified, a POS device generates a payment authorization request based on a user verification and other transaction information. The POS device transmits the payment authorization request to the account management system, and the account management system identifies the user payment data. The account management system receives an authorization from the payment processing system and transmits the payment authorization to the merchant. The merchant salesperson completes the transaction with the user by providing the product or service being purchased. The payment processing system and the merchant system then settle the transaction without involvement of account management system.
