Nancy Loomis

Title: **Innovative Mind: The Contributions of Nancy Loomis**

Introduction

Nancy Loomis, an accomplished inventor based in San Diego, California, has made significant strides in the field of financial technology. With a total of five patents to her name, she has been recognized for her innovative approaches to processing transactions, particularly in enhancing security measures in payment systems.

Latest Patents

One of Nancy's latest patents focuses on "Processing transactions with an extended application ID and dynamic cryptograms." This patent discloses methods, systems, and machine-readable media designed for efficiently handling information associated with transactions that occur at Point of Sale (POS) devices. The invention utilizes extended application IDs alongside dynamic cryptograms to secure and streamline financial transactions.

In her patented method, the initiation of a transaction is detected via a presentation instrument, which then provides a list of application IDs to the POS device. Each application ID identifies specific applications capable of communicating transaction data effectively between the presentation instrument and the POS device. The POS device selects one of these application IDs and returns it to the presentation instrument. Under the control of the chosen application, the presentation instrument generates a Dynamic Transaction Cryptogram (DTC) and a dynamic Primary Account Number (PAN). Notably, both the DTC and the dynamic PAN are only valid for a single transaction, significantly enhancing transaction security.

Career Highlights

Nancy has had a prominent career, contributing to well-known companies in the financial sector, such as First Data Corporation and The Western Union Company. Her work involves creating solutions that address the growing concerns around transaction security in an increasingly digital world, making her a pivotal figure in her field.

Collaborations

Throughout her career, Nancy has collaborated with notable professionals, including Vijay Kumar Royyuru and Robert P Klotz. Together, they have worked on various projects that underline the importance of innovation in financial technologies, particularly in the area of secure transaction processing.

Conclusion

Nancy Loomis stands out as an influential inventor whose contributions to financial transaction processing have advanced the industry’s security measures. With her innovative spirit and collaborative efforts, she continues to pave the way for future advancements in technology, making transactions more secure and efficient for users around the globe. Her achievements not only reflect her expertise but also inspire future generations of inventors in the realm of technology and finance.