Google llc (20240220961). Direct Settlement of Hands-Free Transactions simplified abstract
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 20240220961 titled 'Direct Settlement of Hands-Free Transactions
The abstract describes a hands-free transaction process that utilizes an account management system to authorize transactions and provide payment account information to a payment processing system. The settlement of the transaction occurs between the payment processing system and the merchant, without the involvement of the account management system.
- Account management system authorizes transactions and provides payment account information
- Payment processing system settles transactions with the merchant
- POS device generates payment authorization request based on user verification
- Account management system identifies user payment data and transmits payment authorization
- Merchant completes transaction with user by 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 transaction processes - Enhancing security through user verification - Improving efficiency in payment processing
Benefits: - Faster and more convenient transactions - Enhanced security measures - Simplified payment processes
Commercial Applications: Title: "Innovative Hands-Free Transaction System for Seamless Payments" This technology can be applied in various industries such as retail, e-commerce, and hospitality to streamline payment processes and enhance user experience.
Prior Art: Research into existing hands-free transaction systems and payment processing technologies can provide insights into the development and implementation of this innovation.
Frequently Updated Research: Stay informed about advancements in payment processing technologies, user verification methods, and transaction security measures to enhance the efficiency and security of hands-free transactions.
Questions about Hands-Free Transaction System: 1. How does the hands-free transaction system enhance user convenience and security? 2. What are the potential challenges in implementing hands-free transaction systems in different industries?
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.
