Company Filing History:
Years Active: 2015-2019
Title: Innovations by Dan Poswolsky in Transaction Processing Technologies
Introduction
Dan Poswolsky, an accomplished inventor based in Plainview, NY, has made significant strides in the field of transaction processing with his innovative contributions. With a portfolio of four patents, Poswolsky's inventions are designed to enhance the security and efficiency of financial transactions, catering to the evolving needs of consumers in a digital age.
Latest Patents
Poswolsky's latest patents focus on sophisticated systems and methods for processing transactions using a wallet. In these inventions, he introduces the concept of a wallet vault that communicates with a financial payment network and a wallet located on a customer’s device. One notable invention details how token information is generated and stored, which corresponds to customer information and a payment product. By outputting this token information in an encrypted format to a merchant website or an application, the system ensures that the merchant does not receive sensitive customer payment product information necessary for transaction authorization.
His second similar patent elaborates on a wallet vault that is embodied as a tangible processing machine. This machine retrieves the customer's payment product information upon receiving token data from a merchant POS system. Similar to the previous invention, this system protects customer data by ensuring that transaction authorization occurs without exposing the merchant to the customer's unencrypted payment details.
Career Highlights
Dan Poswolsky is currently associated with JPMorgan Chase Bank, N.A., a renowned institution in the financial sector. His work at the bank positions him at the intersection of innovation and financial services, allowing him to apply his expertise in developing cutting-edge solutions for transaction processing.
Collaborations
In his endeavor to push the boundaries of financial technology, Poswolsky has collaborated with colleagues, including Howard Spector and Hugh Tamassia. Their collective expertise in the field helps foster a dynamic environment where innovative ideas can flourish and lead to groundbreaking inventions.
Conclusion
Dan Poswolsky’s contributions to the field of transaction processing are noteworthy, especially with his recent patents that prioritize security in digital transactions. Through his work at JPMorgan Chase Bank, he continues to navigate the complexities of financial technology, ensuring that customer data remains secure while facilitating seamless transactions. His inventive spirit and collaboration with skilled colleagues are paving the way for future advancements in the industry.