Expedia Group. has been granted a patent for a booking management system that securely authenticates payment information and processes delayed transactions. The system allows third-party services to utilize virtual payment information for transactions without needing to authenticate user card details directly. GlobalData’s report on Expedia Group gives a 360-degree view of the company including its patenting strategy. Buy the report here.
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According to GlobalData’s company profile on Expedia Group, was a key innovation area identified from patents. Expedia Group's grant share as of July 2024 was 48%. Grant share is based on the ratio of number of grants to total number of patents.
Booking management system for secure payment authentication and transactions
The patent US12045745B2 outlines a computer-implemented method and system for processing transactions involving user card information and virtual cards. The method begins with a computing system receiving user card information linked to a first account from a user device. It initiates a first transaction with a user card transaction processing system to verify the user card information without transferring payment. Upon successful verification, a digital verification key is received and stored on behalf of a third-party service. In response to a delayed transaction request from this service, the system retrieves the user card information and initiates a second transaction using both the user card information and the stored digital verification key. This process culminates in sending virtual card information to the third-party service and executing a third transaction that transfers a delayed transaction amount from a third account to a second account associated with the virtual card.
Additionally, the patent details various functionalities and security measures associated with the transactions. It specifies that the system can obtain virtual card information from a transaction processing system, particularly when the second account has a zero balance. The digital verification key serves as authorization data, enabling secure transaction processing without user input. The system can also determine the delayed transaction amount based on user input or policies from the third-party service. Furthermore, it includes provisions for initiating security measures during the first transaction and ensuring that the digital verification key meets these security requirements. Overall, the patent presents a comprehensive framework for managing delayed transactions securely and efficiently through the integration of user card and virtual card systems.
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GlobalData Patent Analytics tracks bibliographic data, legal events data, point in time patent ownerships, and backward and forward citations from global patenting offices. Textual analysis and official patent classifications are used to group patents into key thematic areas and link them to specific companies across the world’s largest industries.
