Alten has been granted a patent for a secure payment method using two-dimensional codes without two-step authentication. The method involves generating two codes simultaneously, splitting user account and payment information, and encrypting data for increased security. Verification at a payment center completes the transaction, enhancing user protection. GlobalData’s report on Alten 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 Alten, was a key innovation area identified from patents. Alten's grant share as of May 2024 was 36%. Grant share is based on the ratio of number of grants to total number of patents.
Secure payment method using alternating two-dimensional codes
A recently granted patent (Publication Number: US11954691B2) discloses a secure payment method using two-dimensional codes without the need for two-step authentication. The method involves generating a pair of two-dimensional bar codes, each containing unique transaction numbers, user account details, and encrypted payment information. These codes are alternately displayed and scanned to obtain intact payment information, which is then sent to a payment center for verification. The system ensures security by splitting and storing account and payment information in separate codes, with keys for parsing stored in each code, enhancing the overall payment process efficiency.
Furthermore, the patent details a method for acquiring and verifying the payment information by scanning multiple images of the displayed codes and combining the parsed information for verification. The process involves determining the integrity of the codes by identifying unique information in each code, ensuring the accuracy of the payment data. Additionally, the system includes a processor and memory storing a computer program to execute the secure payment method, emphasizing the technological aspect of the innovation. Overall, the patent introduces a novel approach to secure payments using two-dimensional codes, streamlining the payment process while maintaining a high level of security and efficiency in transactions.
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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.
