Shift4 Payments has been granted a patent for a system that allows users to access protected data securely. The system involves a token retriever and detokenization system to transmit and receive encrypted data, ensuring authorized access. The account number is displayed for a limited time, enhancing security measures. GlobalData’s report on Shift4 Payments gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on Shift4 Payments, Transaction splitting was a key innovation area identified from patents. Shift4 Payments's grant share as of January 2024 was 75%. Grant share is based on the ratio of number of grants to total number of patents.
Secure system for accessing protected data using tokenization
A recently granted patent (Publication Number: US11875328B2) discloses a system for accessing protected data that involves a token retriever system and a detokenization system. The token retriever system, operating on a first processor, receives an encrypted data token from a device and transmits a request with the token and a source identifier to the detokenization system. The detokenization system, on a second processor, responds with an account number associated with the token if the request is from an authorized source, displaying it for a set time and showing an error if unauthorized. The system ensures secure data access by verifying the source and displaying relevant information.
Furthermore, the patent details a method for accessing protected data, involving receiving an encrypted data token, transmitting a request to the detokenization system, and displaying the account number if the request is from an authorized source. The method includes steps for determining user authorization, modifying detokenization procedure limits, and interfacing with terminal management systems for authentication. The innovative system and method provide a secure and efficient way to access protected data, ensuring only authorized users can retrieve sensitive information, enhancing data security measures in various applications.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
