Mastercard. has been granted a patent for a transportation controller system that utilizes geo-fencing to monitor user locations and manage location-based events. The system tracks travel data, validates trips, and calculates transaction amounts based on distances traveled by multiple customers in a shared vehicle. 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 June 2024 was 33%. Grant share is based on the ratio of number of grants to total number of patents.
Location-based transportation cost splitting system
The granted patent US12047835B2 describes a transportation controller (TC) computing device designed to facilitate the tracking and cost-sharing of transportation services among multiple users. The device utilizes geo-fencing technology to monitor when users cross designated boundaries associated with a vehicle. Upon crossing these geo-fences, the TC device receives travel data from user computing devices, which identifies the transportation provider and tracks the location data of the trip. The system calculates the distance traveled by each user and splits the total trip cost based on these distances. A report summarizing the trip and total cost is then transmitted to the respective users.
Additionally, the TC computing device is equipped to automatically initiate payment transactions over a payment network, transferring the appropriate amounts from each user's payment account to the transportation provider's account. The device can track location data using GPS sensors or cell tower interactions, ensuring accurate distance calculations. Furthermore, the system allows for subsequent trips with different transportation providers, enabling users to receive additional reports and manage multiple transactions seamlessly. The patent also outlines the registration process for both transportation providers and customers, ensuring a comprehensive service framework for location-based transportation management.
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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.
