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 20):
A method as claimed in  claim 16 , wherein the database is configured to store data comprising a plurality of user profiles associated with one or both of purchasers and merchants, wherein the user profiles stores account data associated with one or more external financial accounts associated with the purchasers and merchants as well as personal data associated therewith, and wherein the method further comprises:\n receiving transaction data from the purchaser having a user profile stored in the database, wherein the received transaction data comprises information indicative of the financial account from which the purchaser desires to one or both of pay and authorize the financial amount; associating the received transaction data with a user profile of the purchaser stored in the database; generating the timed security code in response to receiving transaction data from the purchaser; associating the generated timed security code with at least the user profile of the purchaser in the database; transmitting the generated timed security code to an endpoint device associated with the purchaser; and receiving a security code from a merchant having a user profile stored in the database; determining whether or not the received security code is valid, identifying a user profile of a purchaser associated with the received security code if the security code is valid; retrieving at least some of the transaction data, and personal data associated with the identified user profile of the purchaser; generating and transmitting a merchant acceptance message, comprising all or some of the retrieved data associated with the identified user profile, to the endpoint device associated with the merchant, wherein the merchant acceptance message prompts the merchant for an acceptance response for the transaction on specific terms and conditions; generating and transmitting a purchaser acceptance message to the endpoint device associated with the purchaser, wherein the purchaser acceptance message prompts the purchaser for an acceptance response for the transaction; and in response to receiving acceptance responses from the merchant and the purchaser, processing the 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): 0.1177861550012515
- 35 USC 102 Novelty (BERT): 0.4854588368301704
- Combined Prediction Score: 0.1545534231841434
- Mean Citation Score: 236.46786200000005
- Max Citation Score: 243.42903
- Similarity Product: 194.6702296030677

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

Dataset: test