MUMBAI, India, Oct. 5 -- Intellectual Property India has published a patent application (202621099439 A) filed by Dr. D. Y. Patil Institute Of Technology, Pimpri, Pune - on August 18, 2026, for Spend Wise –a System For Purpose-Based Digital Wallet Management.
Inventors include Prof. Sushil Deshpande; Pravin Bhaskar Tekale; Om Manish Sharma; Om Bapusaheb Tambe; Shivprasad Balaji Mungre; and Riddesh Prakash Thakre.
The application for the patent was published on October 02, 2026, under issue no. 40/2026.
Abstract: The present invention relates to a system and method for managing digital payments and personal finances through multiple purpose-based digital wallets. The system allows a user to create and maintain a plurality of digital wallets, each assigned to a specific spending category or saving goal, such as daily expenses, food, travel, subscriptions, emergencies, or future purchases. Each wallet may have a predefined spending limit, and the user may define one or more saving goals by specifying a purpose and target amount. The system provides real-time alerts and notifications to inform the user when wallet balances are low or spending limits is exceeded. Analytical insights are generated to assist the user in understanding spending patterns and improving financial habits. The invention integrates wallet management, real- time spending control, and automated goal-oriented savings into a single coordinated system, thereby enhancing financial discipline, user convenience, and effective money management.
Disclaimer: Curated by HT Syndication.
