Block had 21 patents in ecommerce during Q1 2024. Block Inc’s patents filed in Q1 2024 cover expedited transaction processing using integrated in-store and online transactions, a streaming service platform with user-centric royalty models, interactive digital receipts with feedback components, blockchain supported resource transfer communication protocol, and dynamic electronic representations generated using modeling. These technologies aim to enhance user experience, streamline transactions, and improve communication between users and service providers. GlobalData’s report on Block gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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Block grant share with ecommerce as a theme is 52% in Q1 2024. Grant share is based on the ratio of number of grants to total number of patents.
Recent Patents
Application: Integrated database for expediting transaction processing (Patent ID: US20240046276A1)
Block Inc. has filed a patent for expedited transaction processing using an integrated database of in-store and online transactions. The method involves receiving first and second transaction information, processing the first transaction based on the information and storing a record in the database, then processing the second transaction using the stored record and relevant information, authorizing the second payment instrument, and notifying the online store's computing device for the second transaction.
The patent claims detail a method and payment service system for processing transactions, including authorizing payment instruments, storing records in an integrated database, and allowing transactions based on the authorization. The system can determine corresponding payment information, designate transactions as low risk, and use an expedited process for authorization. It also involves linking user account information for different transactions, determining user correspondence, and processing both point-of-sale and online transactions efficiently.
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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.
