MUMBAI, India, July 25 -- Intellectual Property India has published a patent application (202411004556 A) filed by Mohan, Taron, New Delhi, on Jan. 23, 2024, for 'system for secure digital financial transactions.'
Inventor(s) include Mohan, Taron.
The application for the patent was published on July 25, under issue no. 30/2025.
According to the abstract released by the Intellectual Property India: "The present invention introduces a system for secure digital financial transactions. This system (S) offers users an alternative, secure payment option to carry out single tap transactions through a customer / user interface application (UI) installed on their smart device (D). The said user interface application (UI) comprises at least an EMV card accepting module (UI1), a tokenization module (UI2), a secure card vault (UI3), and a transaction processing application (UI4). The system enables wireless reading and receipt of contactless card details (SC1), followed by tokenization and secure storage of the resulting tokenized card (UI2.1) within the user's smart device (D). This system (S) enables secure handshake between integrated modules for transaction via data exchange module (UI5) within the same user interface application (UI)."
Disclaimer: Curated by HT Syndication.
