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 15):
A method for completing a cash transaction comprising:\n establishing a user account with a user and connecting said user account to a server; establishing a merchant account with a merchant and connecting said merchant account to said server; connecting said server with a user device of said user having said user account by a first secure connection; connecting said server with a merchant device by a second secure connection, said merchant device controlled by the merchant of said merchant account; receiving by said server from said user device a transaction type, merchant name, and transaction amount; and user device location information. validating, by said server, that the user device and merchant are in sufficient proximity for one person to observe the user device and the merchant device; generating, by said server, a temporary transaction code having a time period of validity; sending the transaction code and transaction details from said server to the merchant device for display on the merchant device; sending the transaction code from the server to the user for display on the user device; receiving, by said server, from said merchant device a confirmation that the merchant observed the user device and the merchant device and verified that the displayed transaction codes are the same on both the user device and the merchant device and that the transaction details are correct; upon receiving said confirmation within the time period of validity of said temporary transaction code at said server, said server updating the user account and merchant account to reflect the transaction amount; and sending, from said server, a confirmation of the transaction to said user device and said merchant device.

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): 0.1255804316584955
- 35 USC 102 Novelty (BERT): 0.4942833766347121
- Combined Prediction Score: 0.1624507261561172
- Mean Citation Score: 247.523216
- Max Citation Score: 251.1216
- Similarity Product: 188.2022519282341

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