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Payments Patent Wrap: PayPal Seeks One Honest Room

February 5, 2016

Our weekly look at the most interesting–or perplexing–Patents or Patents Pending from the payments industry. PayPal on Thursday (Feb. 4) applied for a patent that would determine the security level of a set of coordinates and remember it, allowing for less stringent authentication and security when making a purchase that place.

Also, EBay on Feb. 4 (Thursday) filed for a Patent on a way for truck fleets and consumers to more intelligently purchase fuel. And MasterCard on Thursday (Feb. 4) filed for a patent application that would look at non-compliant merchants and track activities to find other naughty players. The card brand is operating on the rationale that thieves tend to hang out together–and that shoppers who buy from one illegal store will likely go to another disreputable merchant if the first one is shut down.

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