Wells Fargo Bank, N.A. (20240242202). TRUST-BASED APPLICATION TO APPLICATION CONNECTIVITY simplified abstract

TRUST-BASED APPLICATION TO APPLICATION CONNECTIVITY

Organization Name

Wells Fargo Bank, N.A.

Inventor(s)

Sudheendranath R. Bhatt of Bangalore (IN)

Ramanathan Ramanathan of Bellevue WA (US)

Sai Krishna Madhavi Chitta of Secunderabad (IN)

Rahul N. Jain of Hyderabad (IN)

Pradeep R. Kumar of Bangalore (IN)

Rameshchandra Bhaskar Ketharaju of Hyderabad (IN)

Mushnuri Veera Venkata Kiran Kumar of Hyderabad (IN)

TRUST-BASED APPLICATION TO APPLICATION CONNECTIVITY - A simplified explanation of the abstract

This abstract first appeared for US patent application 20240242202 titled 'TRUST-BASED APPLICATION TO APPLICATION CONNECTIVITY

The innovation described in the patent application focuses on simplifying and securing transactions in the ecommerce environment, specifically involving mobile wallet applications.

• Enables multiple mobile wallet applications to interact with ecommerce applications without sharing sensitive user data.
• Facilitates backend processing by a mobile wallet server to transfer funds securely to ecommerce applications.
• Establishes a wallet network for secure transactions, incorporating social network application connectivity.

Potential Applications: - Secure online transactions - Mobile payment systems - Ecommerce platforms

Problems Solved: - Complexity and security concerns in ecommerce transactions - Protection of sensitive user data during transactions

Benefits: - Enhanced security for online transactions - Simplified payment processes for users - Increased trust in mobile wallet applications

Commercial Applications: The technology can be utilized by online retailers, payment processors, and mobile wallet providers to enhance the security and efficiency of ecommerce transactions.

Questions about the technology: 1. How does this innovation improve the security of mobile wallet transactions? 2. What are the key advantages of using a wallet network for ecommerce transactions?

Original Abstract Submitted

the innovation discloses systems, methods and computer program products that reduce complexity and associated measures that are taken to ensure trust in secured transactions as necessitated by requirements present only in an ecommerce environment that do not have a parallel with traditional bricks and mortar commercial transactions. the innovation enables a multitude of mobile wallet applications to engage and obtain services from ecommerce applications wherein backend processing by a mobile wallet server obtains and delivers funds to ecommerce applications without sharing a subset of sensitive data, associated with a mobile wallet application user for the secured transactions. the innovation further provides for a wallet network to be initiated and engaged in which the secured transactions can take place, adopting and adapting social network application connectivity.