System to facilitate payment processing
US12045821B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Mar 30, 2022 |
| Grant date | Jul 23, 2024 |
| Priority date | — |
| Expiry date | Mar 30, 2042 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q30/0601
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A point-of-sale (POS) system may use biometric or other contactless techniques to determine tokenization data that attributes a transaction with a particular payment account for settlement. A first payment method specified by a user for use at the POS may be issued by a first bank that does not participate in tokenization. A second payment account associated with a different entity and issued by a second bank that does support tokenization is associated with the first payment method. The POS transaction completes, using a token associated with the second payment account. Another transaction then takes place in which the second bank charges the first bank for the amount of the completed transaction.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.