PayPal has patented a system to monitor user behavior on online merchant platforms to prevent transaction abandonment. By analyzing user actions, the system provides completion data to encourage users to finalize transactions. GlobalData’s report on PayPal 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 PayPal, Social commerce was a key innovation area identified from patents. PayPal's grant share as of May 2024 was 34%. Grant share is based on the ratio of number of grants to total number of patents.
Monitoring device application usage for completion of checkout data processing
A recently granted patent (Publication Number: US12002066B2) discloses a system and method for monitoring user behavior during online transactions to predict and prevent transaction abandonment. The system includes a memory and processors to analyze user actions, determine the likelihood of transaction abandonment, and provide completion data to facilitate successful transactions in future sessions. The method involves detecting user actions, analyzing past behaviors, predicting abandonment likelihood, and offering incentives to complete transactions, all through an application on the user's device. The system also considers weighted scores of user actions and past behaviors to enhance prediction accuracy and user engagement.
Furthermore, the patent details the use of executable code provided by an online transaction processor to monitor user actions, detect potential abandonment indicators, and offer incentives for completing transactions. The system can track various user actions such as navigating away from the application, entering checkout processes, or removing items from shopping carts to assess the likelihood of transaction abandonment. By leveraging past computing actions and predictive analysis, the system aims to improve transaction completion rates and enhance user experience during online transactions. Additionally, the system includes features like time-limited incentives, customizable messages, and dynamic updates based on user interactions to optimize transaction outcomes and reduce abandonment rates effectively.
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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.
