According to GlobalData’s company profile on American Express, Payment actuated vending was a key innovation area identified from patents. American Express's grant share as of May 2024 was 24%. Grant share is based on the ratio of number of grants to total number of patents.

Secure network channel for credit approval based on user profile

A recently granted patent (Publication Number: US12002092B2) outlines a method for enhancing transaction security by correlating user data with previous purchases. The method involves identifying a network node, establishing a secure network channel, receiving SKU data, generating a user profile, and determining transaction approval based on correlated purchases. The system can deny transactions deemed nonconforming, with fraud detection based on geographic location data.

The patent also covers the use of a non-transitory computer-readable medium embodying instructions for executing the method on a computing device. This medium allows for the identification of network nodes, secure network channel establishment, receipt of SKU data, user profile generation, transaction approval request processing, conformance score calculation, and transaction denial based on nonconformance. Additionally, the system can detect fraudulent requests by comparing transaction data with geographic location information. The method aims to provide a secure and efficient way to evaluate transaction requests based on user history and geographic data, enhancing overall transaction security and fraud prevention measures.

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