Posts Tagged: "Citigroup"

PayPal Secures Patent for Augmented Reality Glasses

The unusual direction of innovative developments in the field of fintech is underscored by U.S. Patent No. 9953350, called Augmented Reality View of Product Instructions, which was issued to PayPal in late April. This patent protects a method by which an augmented reality view of an identified object is generated to include promotional material, recommendations, location to purchase the product and product instructions from a database correlated with the object. This technology enables the user’s ability to access information related to a product by creating an augmented reality in which users may be able to see product and service reviews and listings associated with buyers and sellers, recommendations, and product tutorials.

Benjamin Joe

June 24, 2018

Banks playing patent catch-up with tech companies on digital wallets, payment platforms

Mobile payment schemes and digital wallets have been a major topic of discussion in tech circles this year. In early December, Walmart (NYSE:WMT) became the first American retailer to announce its own mobile payment system that will be rolled out next year. Even in the wake of the Supreme Court’s decision in Alice, we have seen an interesting increase in the amount of patent filing activity for mobile payment systems from each of the three largest banks as valued by assets. This is a peculiar about-face from a sector that, until tech companies started encroaching on financial services, had rallied against strong patent rights for software for quite some time.

Steve Brachmann

December 21, 2015