Method and system for blockchain transaction confirmation for small merchants

US11443311B2 · kind B2 · utility

Assignee

• MASTERCARD INTERNATIONAL INCORPORATED · US

Inventors

• Chandan Garg · Jabalpur, IN
• Awinash PANDEY · Bhangrola, IN
• Saugandh Datta · Greater Noida, IN
• Sandeep Parvathareddy · Krishna Nagar, IN

Key dates

• Filing date: Jan 6, 2020
• Grant date: Sep 13, 2022
• Expiry date: Jan 16, 2040

Classification

• Technology area (CPC H): Electricity
• CPC primary: H04L2209/56
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method for facilitating payment transactions for offline merchants through a third party service provider includes: receiving, by processing server, a confirmation message for a payment transaction from a computing device including a merchant identifier, consumer identifier, and transaction amount; generating, by the processing server, a notification message including the merchant identifier, consumer identifier, and transaction amount; encrypting, by the processing server, the notification message using a public key of a first cryptographic key pair; transmitting, by the processing server, the encrypted notification message to the computing device; receiving, by an encryption device, the encrypted notification message from the computing device; decrypting, by the encryption device, the encrypted notification message using a private key of the first cryptographic key pair; and displaying, by a display interfaced with the encryption device, a confirmation message including the consumer identifier included in the decrypted notification message.