MUMBAI, India, July 7 -- Intellectual Property India has published a patent application (202641060709 A) filed by T J Institute Of Technology; Shaik Umira; Lisha. N; Eswari. E; D. Beulah Pretty; and R. Vanmathi on May 13, 2026, for Next Gen Atm Stimulation System.
Inventors include Shaik Umira; Lisha. N; Eswari. E; D. Beulah Pretty; and R. Vanmathi.
The application for the patent was published on July 03, 2026, under issue no. 27/2026.
Abstract: ABSTRACT: The present invention relates to a secure and intelligent automated teller machine (ATM) system that enables cardless transactions using dynamic QR code-based authentication. The system integrates a web-based ATM interface, a mobile application, and a backend server to facilitate secure banking operations without the need for physical debit or credit cards. The system employs multi-factor authentication including one-time password (OTP) verification, QR code validation, personal identification number (PIN) verification, and real-time mobile approval. A dynamic QR code is generated for each transaction, which is time-bound and unique, thereby preventing unauthorized access and replay attacks. The invention enhances transaction security, reduces risks associated with card-based systems such as skimming and cloning, and provides a scalable, cost-effective, and user- friendly solution for modern banking environments
Disclaimer: Curated by HT Syndication.
