Technlogy & IP for Electronic Payments

Elfpoint develops Technology and Intellectual Property. The current portfolio consists of five patents (issued and pending) and working prototypes thereof.

At the heart of our patents is a federated or decentralized payment architecture based on a store-and-forward payment bus that externalizes and routes payment requests from merchants to customers, enabling the customer to pay any payment request (physical or online) from any device.

The concept has been extended to vending devices (traditional vending machines as well as checkout systems and kiosks) so that they can accept mobile payments without any payment machinery or even without a network connection.

Payment Bus

The payment bus provides addressing, routing and caching for payers, payees, payment requests and payment transactions, enabling any payer to pay any payee from their mobile device, synchronously or asynchronously.

System and Method for Payer-Centric Electronic Payments, US11132655B2 (granted), priority date: Nov 2019.

Federated Architecture for Electronic Payments using a Payment Bus, US11620622 (granted), priority date: Nov 2019.

Open Infrastructure for Vending Machine Payments from Mobile Devices, US2021-0192479A1 (allowed), priority date: Nov 2019.

Cash Register and Ticket Vending with Minimal Infrastructure, US 18/115,107 (pending), priority date: Nov 2019.

Generalized IOT Architecture for Payment Devices, US 17/367,080 (pending), priority date: Jul 2021.

Privacy & Security: Payers control their payments and merchants never have access to payers' payment credentials.
Convenience and Flexibility: Payers can specify the payment amount or even add a tip at a restaurant or coffee shop, right from their own mobile devices.
Online or offline: Same payment process—in a language of your choice—on your own mobile device whether paying a website, a store, kiosk, or a vending machine. All contactless.
Full control over promotions: Without sharing their identity with merchants, payers can recieve only the coupons and promotions they want, right along with a payment.
Simple and elastic infrastructure: Leveraging the customer as the payment infrastructure results in low capital and operating costs for the merchant.
Robust, uniform payment process: A single, uniform payment process whether the payment is through a website, at a store, or through a vending kiosk. Nothing to maintain, nothing to fail.
Automatic loyalty program: Even small and medium merchants can run loyalty programs as payers and their purchases can be tracked and promotions and coupons customized.
Customer Analytics: Support for customer analytics whether your customers are online, offline or kiosk-based. Support for vending machine telemetry.