Capital One Services, LLC (20240320929). AUGMENTED REALITY TECHNIQUES TO IDENTIFY A MERCHANT CATEGORY CODE ASSOCIATED WITH A TRANSACTION simplified abstract
Contents
AUGMENTED REALITY TECHNIQUES TO IDENTIFY A MERCHANT CATEGORY CODE ASSOCIATED WITH A TRANSACTION
Organization Name
Inventor(s)
Samuel Rapowitz of Roswell GA (US)
Ashleigh Choi of Arlington VA (US)
John Jones of Alexandria VA (US)
Armando Martinez Stone of Arlington VA (US)
Andrew Shelton of Alexandria VA (US)
AUGMENTED REALITY TECHNIQUES TO IDENTIFY A MERCHANT CATEGORY CODE ASSOCIATED WITH A TRANSACTION - A simplified explanation of the abstract
This abstract first appeared for US patent application 20240320929 titled 'AUGMENTED REALITY TECHNIQUES TO IDENTIFY A MERCHANT CATEGORY CODE ASSOCIATED WITH A TRANSACTION
The abstract describes a patent application for an augmented reality device that can establish a link with a transaction device. The device scans the surrounding environment using computer vision to identify objects and determines the category of these objects when a transaction is performed. It then sends this information to a transaction backend system.
- Augmented reality device links with transaction device
- Scans surrounding environment using computer vision
- Identifies objects and determines their category
- Sends information to transaction backend system
- Utilizes computer vision technology for object recognition
Potential Applications: - Retail: Enhancing shopping experiences by providing real-time information on products - Finance: Streamlining transactions by automatically categorizing purchases - Gaming: Creating interactive experiences by integrating real-world objects into games
Problems Solved: - Simplifies transaction categorization process - Enhances user experience by providing contextual information - Improves efficiency in identifying objects in the environment
Benefits: - Streamlined transactions - Enhanced user experience - Improved efficiency in object recognition
Commercial Applications: "Augmented Reality Transaction Categorization Technology: Revolutionizing Retail and Finance Industries"
Prior Art: Research on computer vision technology in augmented reality devices for object recognition and categorization.
Frequently Updated Research: Stay updated on advancements in computer vision technology for augmented reality devices and transaction processing systems.
Questions about Augmented Reality Transaction Categorization Technology: 1. How does this technology impact the retail industry? 2. What are the potential privacy concerns associated with using augmented reality devices for transaction categorization?
Original Abstract Submitted
in some implementations, an augmented reality device may establish a link with a transaction device. the augmented reality device may scan a surrounding environment to identify one or more objects in the surrounding environment using computer vision. the augmented reality device may determine, based on a notification that the transaction device was used to perform a transaction, a category associated with one or more objects that were identified in the surrounding environment at a time that the transaction was performed. the augmented reality device may send, to a transaction backend system, information that identifies a merchant category code (mcc) associated with the transaction based on the category associated with the one or more objects that were identified in the surrounding environment at the time that the transaction was performed.
