MUMBAI, India, Oct. 5 -- Intellectual Property India has published a patent application (202541028987 A) filed by Shwethaa G; Sheffalli R; Sujithra S; Hansanandini R U; and Mohanambal K on March 27, 2025, for Secure Payment Gateway System For Online Transaction.
Inventors include Shwethaa G; Sheffalli R; Sujithra S; Hansanandini R U; and Mohanambal K.
The application for the patent was published on October 02, 2026, under issue no. 40/2026.
Abstract: I. ABSTRACT OF THE INVENTION: The present invention spends its own online payment gateway system developed exclusively for the Bannari Amman Institute of Technology (BIT) to facilitate secure institution-specific digital transactions without tuning third-party payment processors. Traditional payment systems used by educational-institutions are based on external platforms such as Stripe, PayPal, and Razorpay,leading to security gaps, high transaction fees and limited adjustments. The present invention overcomes these challenges by introducing an online payment system with a dedicated .AI -controlled block chain in place. Educational fee payments, exam fees, exam fees, event registrations and other. institutional transactions are based on Al-dynamic dynamic structures that are allowed to pull in a fully automated and transparent way based on AI dynamic fees based on AI dynamic feedback.Scholarships, penalties, refunds. Additionally, the system uses a multi-stage approval mechanism. This allows for hierarchical approval of high quality transactions, ensuring financial compliance and error reduction. Block chain technology is included to provide an immutable transaction book, prevent unauthorized changes, and ensure a verifiable payment process with operational prevention. The AI operated fraud marking mechanism continuously analyzes transaction patterns to prevent double or fraudulent payments. Additionally,automated settlements on smart Contract based financial transactions make it easier to reduce manwi.l interventions, improve efficiency and eliminate conflict Redefine financial transactions within educational institutions and create an autonomous, powerful, AT-driven, online payments ecosystem that offers outstanding coordination, security and operational efficiency compared to traditional gateways from third-party providers.
Disclaimer: Curated by HT Syndication.
