Block had 34 patents in mobile during Q4 2023. Block Inc’s Q4 2023 patents focus on innovative payment verification methods, NFC device proximity sensing, wireless communication feedback technologies, wearable devices for transactions, and electronic devices with physically unclonable functions for enhanced security. 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 mobile as a theme is 64% in Q4 2023. Grant share is based on the ratio of number of grants to total number of patents.
Recent Patents
Application: Contacts for misdirected payments and user authentication (Patent ID: US20230419294A1)
Block Inc. has filed a patent for a computer-implemented method that involves receiving a payment request from a sender's device, determining a similarity score between the sender and recipient based on contact records, and sending a confirmation request to the sender if the similarity score is below a threshold. The method further includes authorizing a payment transaction upon receiving an approval response from the sender's device, ensuring secure and authenticated transactions between parties.
The patent claims detail the steps involved in the authentication process, including performing two authentication processes, obtaining recipient details from the sender, and authorizing the payment transaction based on positive confirmation. The method allows for input of recipient details such as phone numbers, names, or pictures, enhancing the security and accuracy of the transaction. Additionally, the patent covers the storage and sharing of encrypted contact records, notification processes, and the use of confirmation requests to confirm the recipient's identity, providing a comprehensive system for secure payment transactions within a payment service system.
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GlobalData, the leading provider of industry intelligence, provided the underlying data, research, and analysis used to produce this article.
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.
