PATENT CLAIM ANALYSIS

Application Number: 15774571
Application Type: Utility
Filing Date: 2018-05
Publication Date: 2018-11
Patent Classification: ["705", "044000"]

Abstract:
This invention relates to a financial transaction system and to a method of operating the same. The system comprises a database configured to store data in a secure fashion; and processors comprising a purchaser receiver module, a security code generating module, a code transmission module, and a merchant receiver module. The purchaser receiver module is configured to receive transaction data associated with a transaction. The security code generating module is configured to generate a timed transaction linked security code in response to receiving transaction data. The code transmission module is operable to transmit the security code for use by a purchaser. The merchant receiver module is configured to receive a security code transmitted by a merchant at an endpoint device, wherein the merchant transmitted code is received from a purchaser in respect of a transaction; and determine whether the security code received is valid so as to process the transaction.

Claim (Index 28):
A non-transitory computer readable medium storing a set of computer executable instructions which when executed by one or more processors cause the same to:\n maintain a database storing data in a secure fashion; receive transaction data associated with a transaction for one or both of payment and authorization of a financial amount from a purchaser to a merchant, wherein received transaction data comprises information selected from a group comprising identifier information associated with the purchaser, a financial amount associated with the transaction, financial currency associated with the transaction, and a transaction identifier identifying the transaction; generate a timed security code, valid for a pre-determined period of time, in response to receiving the transaction data, wherein the generated timed security code is linked to the transaction; transmit the generated security code for use by the purchaser wherein, in use, the security code is provided by the purchaser to a merchant in order to process a transaction associated with the security code; receive the security code transmitted by the merchant at a merchant endpoint device, wherein the security code transmitted by the merchant is received thereby from the purchaser in respect of a transaction; and determine whether the security code received thereby is valid, or not, so as to allow or deny the associated transaction.

Metadata:
- Claim Count in Document: 50.0
- Percentile: 93.0
- Lexical Diversity: 2.49231
- Patent Class: 705.0
- Transitional Phrase Type: open
- Component Type: 1
- Foreign Priority: True
- Related Applications: ['13746904', '09754465', '14135555', '10066174', '12479738']

Analysis Scores:
- 35 USC 101 Eligibility (BERT): 0.1172834884281191
- 35 USC 102 Novelty (BERT): 0.4908138114401092
- Combined Prediction Score: 0.1546365207293181
- Mean Citation Score: 236.46786200000005
- Max Citation Score: 243.42903
- Similarity Product: 181.6034084125256

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

Dataset: test