Mastercard International Incorporated

Shreya Mittal

Ankur Arora

Nishant Maheshwari

Amit Gupta

Shubham Bijawat

Jaipal Singh Kumawat

Vikas Bishnoi

Navneet Kumar

Deepak Yadav

Manoneet Kohli

Rick Unnerstall

Shuvam Sengupta

Ved Pratap Singh Chauhan

Manish Kumar

Pulkit Gupta

Lakshmi Sushma Daggubati

Sri Chaitanya Sanaboina

Shubham Jain

Blessy Vohra

A method for improving consensus in a blockchain network through decentralized grouping includes: identifying, by each node of a plurality of nodes in a blockchain network that manages a blockchain, a plurality of groups, where each is comprised of a subset of nodes; generating, by each node in each subset of nodes, a new block for the blockchain; performing, by each subset of nodes, a first consensus operation among all nodes in the subset of nodes for the new block generated by in the subset of nodes to identify a group consensus block, where each node in the subset of nodes receives the group's group consensus block; and performing, by the blockchain network, a second consensus operation among all groups for the identified group consensus block to identify an overall consensus block, where a majority of groups of the plurality of groups receives the overall consensus block.

Method and system for grouping of blockchain nodes

A method for using the active connection of connected devices for additional security in the conveyance of sensitive data from a computing device includes: storing sensitive data; storing one or more device identifiers, wherein each device identifier is associated with a connected device separate from the computing device; receiving a user instruction requesting use of the sensitive data; detecting one or more active communication channels between the computing device and external connected devices; identifying, for each of the detected one or more active communication channels, a device identifier associated with the respective external connected device; verifying that at least one of the identified device identifiers is included in the one or more stored device identifiers; and transmitting the sensitive data after the verification.

Method and system for authentication of connected device transactions

A method for transaction initiation with a bypass of merchant systems includes: storing a consumer public key and a blockchain comprised of a plurality of blocks, each block being comprised of a block header and data values, each block header including a block timestamp, and each data value including a unique transaction identifier; receiving a data message originating from a merchant system including a specific transaction identifier, a transaction timestamp, and transaction data; identifying a specific data value in a specific block that includes the specific transaction identifier; verifying that the block timestamp in the specific block is within a predetermined period of time of the transaction timestamp; identifying payment credentials associated with a user transaction account corresponding to the specific data value; and initiating a payment transaction between the merchant system and the transaction account using the identified payment credentials and transaction data.

Method and system for bypassing merchant systems to increase data security in conveyance of credentials

A method for conveying a one-time password using blockchain includes: receiving proposed transaction data from a merchant system including payment credentials, receiving account details, and a transaction amount; identifying user account data associated with the payment credentials including an account identifier; identifying a one-time password; transmitting the one-time password and account identifier to a third party system; receiving a data identification value from an external computing device; identifying a blockchain data value included in a blockchain including a password value based on the received data identification value; validating, the identified one-time password based on the password value; and initiating payment of the transaction amount from a first transaction account associated with the payment credentials to a second transaction account associated with the receiving account details upon validation of the identified one-time password.

Method and system for utilizing blockchain and telecom network for two factor authentication and enhancing security

A method for verified data storage via blockchain includes: storing a blockchain comprised of a plurality of blocks, each comprised of a block header and a plurality of transaction values, the block header including a timestamp; receiving a transaction notification including an entity identifier and data values; validating the data values based on a validation notification received from a verifying entity; generating a new block header comprised of a current timestamp, a block reference value, and a transaction reference value, the block reference value being generated via hashing of the block header included in a most recent block based on the timestamp, and the transaction reference value being generated via hashing of new transaction values including the data values; generating a new block comprised of the generated new block header and the new transaction values; and transmitting the new block to a node associated with the blockchain.

Method and system for storage and transfer of verified data via blockchain

A method for secure storage and distribution of account tokens includes: storing blockchain data comprised of a plurality of blocks, each block including at least a block header and one or more data values, where each data value includes at least an identification value, an account token, and one or more usage rules; receiving a login request including at least a specific identification value and a set of credentials; identifying a specific data value included in the blockchain data where the included identification value corresponds to the received specific identification value; validating the set of credentials based on the identified specific data value and access to the account token included in the specific data value based on the included one or more usage rules; and transmitting the account token included in the identified specific data value in response to the login request upon successful validation.

Method and system for enhanced login credential security via blockchain

A payment network server for processing a cashless payment transaction via a point-of-sale (POS) terminal associated with a merchant server is described. The server comprises a data storage device comprising instructions operative by a processor to: receive a tokenization request comprising payment account credentials; generate a token associated with the payment account credentials; transmit the token to the customer electronic device, where the token is transmitted to a card for processing the transaction at the POS terminal; receive a transaction request comprising the token and a payment amount; perform de-tokenization on the token to identify the payment account credentials associated with the token; transmit an authorisation request that comprises at least the payment account credentials and the payment amount to an issuer institution; receive an authorisation response comprising an indication of approval or refusal; and transmit a payment transaction response comprising approval or a refusal to the merchant.

Computer system and computer-implemented method for processing a cashless payment transaction via a point-of-sale terminal

System and method for facilitating purchase of products from a plurality of different merchants. The system includes a payment processor module that is in communication with a first e-commerce platform associated with a first merchant and a second e-commerce platform associated with a second merchant. The payment processor module is configured to receive data comprising: first product information relating to a first product to be purchased by a customer through the first e-commerce platform; and second product information relating to a second product to be purchased by the customer through the second e-commerce platform. The data is received in real-time without delay after the customer provides an indication of intent to purchase the first and the second products. The payment processor module is further configured to initiate a single transaction based on the data that is received, wherein the single transaction corresponds to the purchase of the first and the second products by the customer.

System and method for facilitating purchase of products from different merchants

A method for contextual authentication based on computing devices includes: storing an account profile related to a transaction account including an account identifier and a timestamp and a device geolocation for at least two computing devices; receiving an authorization request for a payment transaction including the account identifier, a transaction geographic location, and a transaction time; identifying an authentication score for the payment transaction based on a comparison of the transaction time and transaction geographic location to the timestamp and device geographic location for each of the at least two computing devices; and transmitting the identified authentication score and received authorization request to a financial institution associated with the transaction account.

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Delhi, India

Shreya Mittal