Mastercard has been granted a patent for a method involving network messaging to provision data. The system allows sharing user data with a first party based on specific controls and authorization messages passed through payment rails. The process ensures secure data sharing via an API, separate from the payment network. GlobalData’s report on Mastercard 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 Mastercard, was a key innovation area identified from patents. Mastercard's grant share as of May 2024 was 21%. Grant share is based on the ratio of number of grants to total number of patents.
Provisioning data based on network messaging
A recently granted patent (Publication Number: US12002056B2) outlines a computer-implemented method for provisioning data based on network messaging. The method involves passing an authorization message through payment rails of a payment network, from a first party to a second institution, including account and transaction identifiers, and data associated with the first party. The data platform computing device then retrieves controls associated with the user, identifies data from the user profile to be shared with the first party, notifies the first party, receives acknowledgment, and shares the identified data via an API. The system includes a payment network computing device and a data platform computing device, with the former receiving and passing authorization messages, and the latter detecting, retrieving controls, identifying data, notifying, receiving acknowledgment, and sharing data with the first party.
Furthermore, the patent details the authorization message's consistency with the ISO 8583 standard, the inclusion of a primary account number (PAN) for the user's payment account, and the categorization of data based on merchant category codes (MCC). The system ensures the sharing of identified data while excluding other sets of data within the user profile. The non-transitory computer-readable storage medium includes instructions for detecting, retrieving controls, identifying data, notifying, receiving acknowledgment, and sharing data through an API, emphasizing the importance of data provisioning based on network messaging in a secure and controlled manner.
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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.
