Validating transactions between entities using LoRaWAN protocol

US12014348B2 · kind B2 · utility

Assignee

• Bank of America Corporation · US

Inventors

• Prashant Anna Bidkar · Delhi, IN
• Ankit Upadhyaya · Sindhar, IN
• Prashant Khare · Ashti, IN
• Suman Boroi Tamuly · Dudhnai, IN
• Harmeet Singh · Simsbury, US
• Bharat Indrakanti · Hyderabad, IN

Key dates

• Filing date: Sep 7, 2022
• Grant date: Jun 18, 2024
• Expiry date: Sep 7, 2042

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q20/4093
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Transactions between entities may be validated using LoRaWAN communications to more quickly process those transactions. In the example of check depositing, a first entity associated with a check payee may transmit a check clearance request to a second entity associated with a check payor using LoRaWAN communications. The LoRaWAN signaling and communications may be performed between devices within LoRaWAN range. For example, a check depositing device may receive a check deposit where the payor is associated with a different financial institution or entity. Accordingly, the check depositing device may communicate with another device associated with the payor institution or entity using LoRaWAN signals to confirm check clearance.