# US11568401B2: Digital Payment System

- Kind: Granted patent
- Family: Digital Payment System (https://www.intellectualfrontiers.com/patents/digital-payment-system)
- USPTO status: Patented Case (as of 2023-01-11; record read 2026-09-27)
- Application: 16835289
- Filed: 2020-03-30
- Published: 2020-07-16
- Granted: 2023-01-31
- Estimated expiration: 2040-03-16 (An estimate from Google Patents, read 9 October 2026. Fees, terminal disclaimers and later events can change it, and it is not legal advice.)
- Inventor: Shahid N. Shah
- Rights holder: Intellectual Frontiers LLC
- Classifications (CPC): G06Q 20/02, G06Q 20/40, G06Q 20/0855, G06Q 40/00
- Continuation of US10643208B2

## Licence or acquisition

Available for an exclusive or non-exclusive licence, field-of-use licences included, or for acquisition. Terms on inquiry. Write to hello+ip@intellectualfrontiers.com.

## In plain language

[A Cloud-Based Payment System Empowering Transactions Through Data Worth](https://www.intellectualfrontiers.com/patent-summaries/a-cloud-based-payment-system-empowering-transactions-through-data-worth)

## Abstract

A digital payment system for facilitating seamless transactions from a user system to a buyer system. The system includes a service provider system which further includes a service interaction component. The service interaction component is configured to collect predefined information about the user system and the associated user. The service provider system also includes a payment engine for processing payments digitally based on data worth associated with the data owned by the user and authorized for sharing by the service provider to the buyer system. The payment engine calculates a payable amount payable digitally by the user to the service provider based on a digital transactional value indicative of the data worth associated with the data owned by the user and authorized for sharing, among other things. The system further includes a pre-consenting system configured to facilitate user authorization.

## Independent claims

1. A computer-controlled payment system for facilitating seamless transactions, the system comprising: a cloud-based central controlling sub-system comprising: a cloud-based central data center comprising computer executable files containing structured data; an authorization code collector that collects a digital code; an authorization code verification device that verifies the digital code as an indication of an authorization to perform a digital transaction; a data extraction device that extracts the structured data from the computer executable files; and a data worth valuation device that calculates a transactional value associated with user data; a service provider sub-system that is associated with a service provider and provides a service in exchange for a payment and a consent for usage of user data, wherein the service provider sub-system is to generate a request for the consent for the usage of the user data, and evaluate the transactional value of the user data; a user sub-system that is associated with a user, wherein the user sub-system comprises: an installable application that receives the user data from the user; and a graphical user interface for selection by the user to permit access of the user data by the service provider sub-system, wherein upon permission to access the user data by the user, the service provider sub-system is to authorize and transfer the permission to the cloud-based central controlling sub-system; a buyer sub-system that is associated with a buyer of the service, wherein the buyer sub-system does not directly exchange data with the service provider sub-system, wherein the buyer sub-system is to provide a set of rules containing predefined criteria and preferences that are used by the data worth valuation device to calculate the transactional value associated with the user data; a third party sub-system that is associated with a third party to an exchange of the service between the buyer and the service provider, wherein the third party sub-system is to assist the service provider sub-system to evaluate the transactional value of the user data; a pre-consenting sub-system communicatively connected with the service provider sub-system and located remotely from the user sub-system, wherein the pre-consenting sub-system is to receive and process a digital signal from the user sub-system for authorizing the service provider sub-system to share the user data at least in part with the buyer sub-system toward a digital purchase of the service; and a payment engine communicatively connected to the cloud-based central controlling sub-system, wherein the payment engine is to process payments digitally based on the transactional value associated with the user data and authorized for sharing by the service provider sub-system to the buyer sub-system, wherein the payment engine is to calculate a payable amount payable digitally by the user to the service provider sub-system based on a first digital transactional value indicative of a service charge for the service delivered digitally by the service provider, a second digital transactional value indicative of a predefined co-pay between the user and the third party sub-system, and a third digital transactional value indicative of the transactional value associated with the user data authorized for sharing.

Source: https://www.intellectualfrontiers.com/patents/digital-payment-system/us11568401b2