US Patent Issued to JIO PLATFORMS on May 19 for "System and method for secure and contactless fund transfer in open and closed loop transactions" (Indian Inventors)

ALEXANDRIA, Va., May 19 -- United States Patent no. 12,632,855, issued on May 19, was assigned to JIO PLATFORMS Ltd. (Ahmedabad, India).

"System and method for secure and contactless fund transfer in open and closed loop transactions" was invented by Pradeep Garani (Karnataka, India), Nimish Jain (Karnataka, India) and Sunitha Kambham (Karnataka, India).

According to the abstract* released by the U.S. Patent & Trademark Office: "The present invention relates to a system for transfer of fund from a user to an entity. The user may be associated with a user computing device and the entity may be associated with an entity device. The entity device may include a secure element embedded within the entity device such that the secure element may ...