Groupon‘s patent discusses systems and methods for mobile payments. The networked device receives consumer data, generates anonymous data with a private key, associates promotional data with a merchant, and facilitates secure transactions between consumer and merchant devices. GlobalData’s report on Groupon 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 Groupon, Dynamic premium pricing was a key innovation area identified from patents. Groupon's grant share as of March 2024 was 69%. Grant share is based on the ratio of number of grants to total number of patents.
Secure mobile payments with promotional offers and rewards
A recently granted patent (Publication Number: US11954707B2) discloses a networked device designed to streamline payment processes and enhance consumer experience. The device includes processing circuitry that receives consumer identifying data, generates anonymous identifying data associated with a private key, and links promotional data with a merchant. The anonymous identifying data is sent to the consumer device, which then forwards it to the merchant device without the networked device's intervention. Upon validation of the anonymous data, the consumer identifying data is shared with the merchant device, along with the promotional data. Additionally, the device can authorize payments, apply discounts, and process payment confirmations efficiently.
Furthermore, the networked device can determine the proximity of the consumer device to the merchant device and send promotional data accordingly. The device utilizes various techniques such as signal strength indication or travel-time locating to establish proximity. The patent also outlines methods for retaining service fees, facilitating payments to merchant accounts, and generating anonymous identifying data using keys, random numbers, codes, or tokens. Overall, the patented technology aims to enhance payment processes, improve consumer engagement, and optimize promotional activities in a networked environment, offering a comprehensive solution for modern payment transactions.
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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.
