Fidelity National Information Services patented a method for secure payment transactions from POS terminals to financial institutions. The process involves reading payment and routing information, consumer authentication, and generating authentication certificates. The claim details the steps for submission of payment transaction requests to a financial institution’s transaction server. GlobalData’s report on Fidelity National Information Services 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 Fidelity National Information Services, was a key innovation area identified from patents. Fidelity National Information Services's grant share as of February 2024 was 61%. Grant share is based on the ratio of number of grants to total number of patents.
Secure method for payment transaction requests from pos terminal
A recently granted patent (Publication Number: US11915221B2) outlines a method for submitting payment transaction requests from a point of sale (POS) terminal to a financial institution's transaction server. The method involves reading a payment vehicle certificate, generating a validation based on encryption keys and payment vehicle capabilities, and submitting the transaction request to the financial institution. Additionally, the method includes transmitting certificates to an authentication service for validation and canceling the transaction if errors are detected in the validation process.
Furthermore, the patent describes a computer system and a non-transitory machine-readable medium that facilitate the submission of payment transaction requests. The system and medium store instructions for reading payment vehicle certificates, generating validations, and submitting transaction requests. They also include functions for transmitting certificates for validation, canceling transactions in case of errors, and handling financial institution routing information. The payment vehicle certificate validation process is detailed, including the use of encryption keys, requester IDs, and various data elements within the certificate. Overall, the patent aims to streamline and secure the payment transaction process between POS terminals and financial institutions, ensuring efficient and reliable transactions for both merchants and consumers.
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