US Patent Issued to PAYPAL on Jan. 13 for "Token service provider for electronic/mobile commerce transactions" (American, Australian Inventors)

ALEXANDRIA, Va., Jan. 13 -- United States Patent no. 12,524,761, issued on Jan. 13, was assigned to PAYPAL INC. (San Jose, Calif.).

"Token service provider for electronic/mobile commerce transactions" was invented by Nitin Prabhu (San Jose, Calif.), Dinesh Gomes (San Jose, Calif.) and Ian Povey (Asquith, Australia).

According to the abstract* released by the U.S. Patent & Trademark Office: "A method for verifying transactions is discussed. The method includes receiving a transaction request for performing a transaction between a user account and a merchant account. The method includes determining, based on authentication of the user account, a common identifier associated with the user account, the common identifier indicating the user ac...