PATENT CLAIM ANALYSIS

Application Number: 16371094
Application Type: Utility
Filing Date: 2019-03
Publication Date: 2019-11
Patent Classification: ["705", "039000"]

Abstract:
A system, method, and program product for exchanging physical, virtual or fiat currency between two individuals at the same geographic location using account information stored on a server database. The payer activates payer mobile device using biometric identification, then inputs the amount to transfer along with a payee security code, then payer presses “send.” The payee activates payee mobile device using a biometric identification, then payee inputs the amount to receive along with a payer security code then payee presses “send”. Both the payer and the payee mobile devices simultaneously receive from the server an alphanumeric transaction code along with the amount. Transaction code and amount are displayed on the respective mobile screens. When payee verifies that both mobile devices display the same transaction code and dollar amount, then the payee presses “I Agree” key on payee mobile device. Then the funds are exchanged at the server database. Payer and payee may also exchange corresponding cash.

Claim (Index 1):
A system for completing a cash transaction comprising:\n a first smart phone computing device having a user application installed; a merchant smart phone computing device having a merchant application installed; a banking service server connected to said first smart phone computing device and said merchant smart phone computing device by respective secure connections over a network; said first smart phone computing device configured for receiving a transaction amount and a merchant name entered by a user; said first smart phone computing device receiving location information of said first smart phone computing device from a location information source; said first smart phone computing device configured for sending said transaction amount, said merchant name and said location information to said banking service server over said secure connection; said banking service server receiving said transaction amount, said merchant name and said location information form said first smart phone computing device; said banking service server validating that the location information is proximal to a merchant with said merchant name; said banking service server generating a temporary validation code for the transaction; said banking service server connecting with said merchant smart phone over said secure merchant connection and sending prospective transaction information including said transaction amount, and said validation code to said merchant computing device; said banking service server sending said validation code to said first smart phone computing device for display; said merchant computing device displaying said transaction amount, and said validation code; said banking service server configured for receiving a message from said merchant computing device from merchant input indicative that the validation code displayed on the merchant computing device and the validation code displayed on the user computing device are the same and the transaction is approved; said banking service server updating the user account and merchant account in response to the message that the validation codes displayed are the same and the transaction is approved.

Metadata:
- Claim Count in Document: 47.0
- Percentile: 99.0
- Lexical Diversity: 2.09524
- Patent Class: 705.0
- Transitional Phrase Type: open
- Component Type: 1
- Foreign Priority: False
- Related Applications: ['13429609', '13102325', '10362438', '13102118', '11341952']

Analysis Scores:
- 35 USC 101 Eligibility (BERT): 0.1260447401126808
- 35 USC 102 Novelty (BERT): 0.4894838511203218
- Combined Prediction Score: 0.1623886512134449
- Mean Citation Score: 247.523216
- Max Citation Score: 251.1216
- Similarity Product: 201.0491933652877

Labels:
- Claim Label 101: 1
- Claim Label 102: 1
- Claim Label 103: 0
- Claim Label 112: 1
- Combined Label: 1
- Label 101 Adjusted: 1

Dataset: test