US Patent Issued on Oct. 6 for "Payment card with embedded tokenized income authorization and institutional return enforcement in a traced-income financial system" (Delaware Inventors)

ALEXANDRIA, Va., Oct. 6 -- United States Patent no. 12,755,124, issued on Oct. 6.

"Payment card with embedded tokenized income authorization and institutional return enforcement in a traced-income financial system" was invented by Miguel Jose Macias Ulloa (Wilmington, Del.) and Gaston Damian Pogoda (Wilmington, Del.).

According to the abstract* released by the U.S. Patent & Trademark Office: "A payment card for use in a traceable-income financial transaction system includes a secure hardware element storing cryptographic tokens linked to tokenized income objects containing metadata for payer, classification, timestamp, and allocation rules. The card transmits the token via EMV or NFC to a licensed terminal. A transaction validation engine...