How Digital Wallets Pull Data From Multiple Sources for Payments

A system that lets a digital wallet gather and combine account information from different companies to help a user complete a payment transaction.

What it covers

This patent describes a digital wallet system that acts as a middleman between a user, a merchant, and multiple data sources. When a user starts a payment, the system pulls authentication data from a primary account, such as a bank or payment processor. Once that is verified, the system automatically reaches out to other servers to pull in additional details, like contact info or secondary payment options, from different entities. It then bundles all this information together and sends it to the merchant to finalize the transaction. For example, it could pull your bank details for the payment and your social media profile for shipping address verification simultaneously.

What it doesn't cover

• —Does not cover systems that only pull data from a single source or entity.
• —Does not cover transactions where the user is not given the opportunity to review or update the authentication information before it is sent.
• —Does not cover offline payment processing that does not involve a merchant server or remote authentication server.
• —Does not cover systems that do not perform an automated secondary query to a different entity after the initial authentication.

The clever bit

The system creates a 'bifurcated' process where the authentication of the primary account triggers an automated, secondary retrieval of data from a completely different entity, effectively bridging two separate data silos during a single checkout flow.

Why it matters

This technology addresses the fragmentation of digital identity and payment data. By automating the collation of data from disparate sources, it reduces the manual effort required by users during checkout, potentially increasing conversion rates for merchants. It is a practical application of data interoperability in the fintech sector.

Real-world examples

• 1.Digital wallets that auto-fill shipping addresses from social media accounts during checkout.
• 2.Unified payment gateways that verify bank credentials and loyalty program status in one step.
• 3.Cross-platform checkout experiences that sync payment tokens with secondary user account data.