Intellectual Property India Publishes Patent Application for 'Method, Device And Secure Element For Conducting A Secured Financial Transaction On A Device' Filed by Apple Inc.

MUMBAI, India, Nov. 7 -- Intellectual Property India has published a patent application (202538097540 A) filed by Apple Inc., Cupertino, U.S.A., on Oct. 9, for 'method, device and secure element for conducting a secured financial transaction on a device.'

Inventor(s) include Fontaine, Sebastien; Dolcino, Luc; Du Hays, Benjamin; De Nanclas, Maxime; and Alberti, Xavier.

The application for the patent was published on Nov. 7, under issue no. 45/2025.

According to the abstract released by the Intellectual Property India: "A device and a secure element for conducting a secured financial transaction are disclosed. The device comprises a central processing unit; a communication interface 5 for establishing a communication between the device and a financial institution related to a financial account; an interface for acquiring data relating to the financial account; the secure element for processing at least a portion of the data relating to the financial account acquired by the interface; and control logic for acquiring a purchase amount to be debited from the financial 10 account and for obtaining a transaction authorization from the financial institution related to the financial account, the transaction authorization being based, at least partially, on data processed solely by the secure element independently of data processed by the central processing unit. A method of conducting the secured financial transaction, and a computer program product for execution by the secure element are also disclosed."

The patent application was internationally filed on Feb. 28, 2013, under International application No.PCT/CA2013/000185.

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