Mastercard International Incorporated

Awinash Pandey

Chandan Garg

Saugandh Datta

Ankur Mehta

Sandeep Parvathareddy

A method for optimizing blockchain storage size through use of relative values includes: receiving, by a blockchain node in a blockchain network that manages a blockchain, a plurality of blockchain data values, each including unspent transaction outputs, at least one destination address, and, for each destination address, an original currency amount; identifying a base value; modifying the original currency amount included in each blockchain data value to be a relative currency amount based on a difference between the identified base value and the original currency amount; generating a new block, the new block including a block header and the modified plurality of blockchain data values; and transmitting the generated new block to a plurality of additional nodes in the blockchain network.

Method and system for optimization of data storage for distributed ledgers

Embodiments provide methods, and systems for facilitating a payment transaction utilizing a pre-defined radio frequency allocated by an agency to a merchant. A user may open an application provided and maintained by a payment network on a user device and input the pre-defined radio frequency associated with the merchant. The payment network server is configured to establish a secure radio frequency connection between the user device and a merchant server of the merchant. Post establishment, the user may proceed to make a payment transaction to the merchant by choosing a payment method and authenticating his/her identity. The payment transaction is authorized by an issuer of the payment account and is forwarded to the payment network server. The payment network server is configured to fetch acquirer information of the merchant account and process the payment. Post completion, a confirmation message is sent to the user device over the secure RF connection.

Methods and systems for facilitating a payment transaction over a secure radio frequency connection

A method for facilitating payment transactions for offline merchants through a third party service provider includes: receiving, by processing server, a confirmation message for a payment transaction from a computing device including a merchant identifier, consumer identifier, and transaction amount; generating, by the processing server, a notification message including the merchant identifier, consumer identifier, and transaction amount; encrypting, by the processing server, the notification message using a public key of a first cryptographic key pair; transmitting, by the processing server, the encrypted notification message to the computing device; receiving, by an encryption device, the encrypted notification message from the computing device; decrypting, by the encryption device, the encrypted notification message using a private key of the first cryptographic key pair; and displaying, by a display interfaced with the encryption device, a confirmation message including the consumer identifier included in the decrypted notification message.

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Haryana, India

Awinash Pandey