Block had three patents in big data during Q4 2023. Block Inc filed a patent for techniques to analyze data and create connections between merchants based on customer transactions. The payment service can generate buyer profiles and make recommendations for future transactions, ultimately improving customer engagement and merchant relationships. GlobalData’s report on Block gives a 360-degreee view of the company including its patenting strategy. Buy the report here.
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Block grant share with big data as a theme is 66% in Q4 2023. Grant share is based on the ratio of number of grants to total number of patents.
Recent Patents
Application: Using data analysis to connect merchants (Patent ID: US20230334550A1)
Block Inc. has filed a patent for techniques and arrangements to perform data analysis for generating connections between merchants. The payment service analyzes transaction information to create buyer profiles based on customer transactions at different merchants. By identifying relationships between merchants and customers, the payment service can generate recommendations for subsequent transactions, sending them via electronic communication to the relevant parties. The system uses algorithms to identify similarities in transactions, such as merchants, customers, payment information, items or services acquired, cost, time, date, and location, to establish connections and make recommendations for future transactions.
The method and system outlined in the patent involve receiving transaction information from various merchants using a payment-processing system, analyzing this data to identify relationships between merchants, and generating connections based on these relationships. By determining additional relationships and creating interrelated connections between customers and merchants, the system can offer recommendations for future transactions. These recommendations are based on the analysis of transaction information, including the identification of a threshold number of customers conducting transactions at specific merchants. The system communicates these recommendations through electronic notifications to the respective computing devices associated with the merchants involved, facilitating more targeted and efficient transactions based on customer behavior and merchant relationships.
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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.
