MUMBAI, India, Nov. 2 -- Intellectual Property India has published a patent application (202647126944 A) filed by Mastercard International Incorporated on October 24, 2026, for Method And System Using Loyalty Coins As Digital Currency With Smart Contracts.
Inventors include Mahajan, Mrinal; Majhi, Arnesh; Shamnani, Bharat; Naik, Himanshu; and Jain, Samta.
The application for the patent was published on October 30, 2026, under issue no. 44/2026.
Abstract: A method for implementing loyalty points as digital currency using blockchain includes: receiving first transaction data for a first transaction including a first recipient address associated with a blockchain wallet and a positive loyalty point amount; processing the received first transaction data for the first transaction to add a first new block to the blockchain that includes the first recipient address and the positive loyalty point amount; receiving, after a predetermined period of time, second transaction data for a second transaction including a second recipient address associated with the blockchain wallet and a negative loyalty point amount; and processing the received second transaction data for the second transaction to add a second new block to the blockchain that includes the second recipient address and the negative loyalty point amount.
Disclaimer: Curated by HT Syndication.
