Location History:
- Maharashtra, IN (2021)
- Pune, IN (2021 - 2023)
Company Filing History:
Years Active: 2021-2023
Title: Innovations by Navneet Jain
Introduction
Navneet Jain is a prominent inventor based in Pune, India. He has made significant contributions to the field of transaction processing technology. With a total of seven patents to his name, Jain has demonstrated a commitment to advancing payment systems and enhancing consumer experiences.
Latest Patents
Navneet Jain's latest patents include an "Electronic system and method for transaction processing." This innovative system comprises a server configured to receive transaction details from an acquirer financial institution for a merchant. It utilizes a common virtual payment token to streamline the transaction process. The system retrieves identification details of consumer payment instruments associated with the token and selects the appropriate payment instrument based on merchant details. The transaction is then processed by communicating with the issuer financial institution.
Another notable patent is for "Methods and systems for facilitating payment transactions at point of sale terminals." This method involves receiving a machine-readable code that contains information about the merchant and a dynamic token. The code is valid for a limited time, ensuring security during transactions. The server system sends a notification to the merchant device for transaction approval and facilitates the payment transaction upon receiving a merchant-defined transaction code.
Career Highlights
Navneet Jain is currently employed at Mastercard International Incorporated, where he continues to innovate in the payment processing sector. His work focuses on developing systems that enhance the efficiency and security of financial transactions.
Collaborations
Some of his notable coworkers include Piyush Sharma and Arunmurthy Gurunathan. Their collaboration has contributed to the successful development of various payment technologies.
Conclusion
Navneet Jain's contributions to transaction processing technology have positioned him as a key figure in the field. His innovative patents reflect a deep understanding of consumer needs and technological advancements. Jain's work continues to influence the future of payment systems and enhance the overall transaction experience.