MUMBAI, India, July 24 -- Intellectual Property India has published a patent application (202611058764 A) filed by Nims University Rajasthan, Jaipur on May 08, 2026, for System And Method For Deferred Group Payments.
Inventor includes Ankit Kumar.
The application for the patent was published on July 17, 2026, under issue no. 29/2026.
Abstract: A computer-implemented system (100) and method are disclosed for facilitating deferred and split payments for group travel bookings. The system (100) comprises a group creation and management module (104) configured to create a virtual group for a travel booking and enroll multiple users, and a group-level digital wallet (101) maintaining a non-custodial virtual ledger representing a total booking amount and fractional contributions of each group member. A UPI AutoPay integration module (102) generates mandate requests enabling scheduled automatic payments from member bank accounts. A payment processing and reconciliation engine (103) authenticates received payments, updates the virtual ledger in real time, and consolidates collected amounts for disbursement to a travel service provider. A notification and communication module (105) issues payment reminders and alerts, while a default management module (106) detects payment failures and triggers predefined corrective actions. The disclosed system enables transparent, synchronized, and automated multi-user payment management across networked devices.
Disclaimer: Curated by HT Syndication.
