Stripe had 14 patents in ecommerce during Q2 2024. Stripe Inc filed patents in Q2 2024 for methods and apparatuses to detect fraudulent merchant activities, process transaction requests, validate terminal device integrity, and perform transaction tracing. These inventions involve utilizing machine learning models, clustering merchant systems, combining fraud scores, determining risk values, deferring risk value determinations, verifying public keys, mapping funds flow transactions, and generating function graphs for transaction tracing. GlobalData’s report on Stripe gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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Stripe had no grants in ecommerce as a theme in Q2 2024.
Recent Patents
Application: Systems and methods for merchant level fraud detection based in part on merchant cohort clustering (Patent ID: US20240211965A1)
The patent filed by Stripe Inc. describes a method and apparatus for detecting fraudulent merchant activities at a commerce platform system. The method involves accessing signal data for merchant system transactions, encoding the data into input signals, inputting these signals into machine learning models to generate fraud scores, clustering merchant systems based on input signals, and generating cluster fraud scores. If a cluster fraud score surpasses a threshold, remedial actions are taken against each merchant system in that cluster, such as suspending or deactivating accounts. The system uses a combination of machine learning models, including XGBoost and Neural Network models, and clustering techniques like density-based spatial clustering or KMeans clustering.
The patent also details the types of signal data used, including structured and unstructured data, as well as merchant system characteristics like transaction volume, location, and fraud detection history. The method calculates cluster fraud scores based on probabilities of fraud, average fraud scores, and maximum fraud scores within a cluster. Additionally, the clustering process groups merchant systems based on machine learning model outputs and is performed periodically. The remedial actions against fraudulent clusters can involve suspending accounts for a period, requiring non-fraudulent activity data, deactivating accounts, or a combination of these measures. The patent also covers a computer-readable storage medium storing instructions for the detection process and a server computer system configured to carry out the operations described in the patent.
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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.
