MUMBAI, India, Oct. 26 -- Intellectual Property India has published a patent application (202641122948 A) filed by Ms. V Saraswathi; Ms. N R G Sreevani; Ms Belshia Jebamalar G; and S. A. Engineering College on October 14, 2026, for Group-Based Payment Transaction System.
Inventors include Ms. V Saraswathi; Ms. N R G Sreevani; and Ms Belshia Jebamalar G.
The application for the patent was published on October 23, 2026, under issue no. 43/2026.
Abstract: Abstract— In this digital financial ecosystem age, peer, to, peer and group, based payment transactions have become a very basic requirement. The current payment systems mostly support one, to, one transaction only and are void of efficient mechanisms to handle multi, user fund distribution at the same time. This paper proposes a Roster, Based Group Payment Transaction System developed with Expo React Native and PostgreSQL that allows a single payer to send money to up to 6 payees at the same time by just a single click and after verification of their identity. The paper also talks about a roster management system, a group transaction engine, and an authentication system for enhanced security, faster processing and reliability. Test results verify that there are substantial enhancements in transaction security, user, friendliness and system throughput over the traditional payment systems.
Disclaimer: Curated by HT Syndication.
