ALEXANDRIA, Va., June 16 -- United States Patent no. 12,309,311, issued on May 20, was assigned to SPRIV LLC (New York).
"Method and system for validating electronic transactions" was invented by Guy Hefetz (Boca Raton, Fla.).
According to the abstract* released by the U.S. Patent & Trademark Office: "A method and system for validating an Internet transaction by geographically locating the user's mobile phone and the location of the transaction. The invention also provides a method for detecting and reducing the incidence of fraud during electronic transactions, by generating an alert if the two locations do not match in geographical proximity. The method does not require any user intervention other than the user's interaction with an Int...