Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

This could be the first time that new age online companies in India realise the potential that patents carry with them. 
 The digital payments firm <keyword id="6377963" type="UNKNOWN" weightage="100" keywordseo="Freecharge">FreeCharge</keyword>, which is owned by <keyword id="541988" type="COMPANY" weightage="100" keywordseo="SnapDeal">Snapdeal</keyword>, has internally developed an alternative to the <keyword id="510437" type="COMPANY" weightage="100" keywordseo="OTP">OTP</keyword> authentication process, and has already filed for patenting the technology. 
 
The authentication solution is called as 'On The Go Pin', and is aimed at making both online as well as offline transactions faster. This technology replaces the OTP received through text message with a pin that is within the phone and keeps changing every few seconds. From the backend, the servers of the bank and the merchants would be verifying the pin so that the transaction can be processed. 
 <keyword id="259717" type="PERSON" weightage="20" keywordseo="Govind-Rajan">Govind Rajan</keyword>, COO of FreeCharge, told ET that this technology would eliminate the wait time, caused by connectivity issues, for both the retailers as well as customers. 
 
"This system fulfils the Reserve Bank of India's (RBI) mandate for two factor authentication and does not require even a single paisa of additional investment by retailers or customers," said Rajan, who also heads the strategy office of Snapdeal. 
 
A deal with Shopper's Stop has already been stuck, and it would soon begin transactions using the new technology. 
 Filing of this patent can be the welcome sign of the modern-day Indian online industry, which has big players like <keyword id="6354742" type="COMPANY" weightage="100" keywordseo="Flipkart">Flipkart</keyword>, Snapdeal and <keyword id="6357120" type="UNKNOWN" weightage="100" keywordseo="PayTM">Paytm</keyword>. All these companies are investing huge bucks in R&amp;D to develop various breakthrough technologies, but this is the first time that someone has patented a technology. 
 
Rahul Dev, patent and trademark attorney at Tech Corp Legal, told ET that this trend of patenting new technology is slowly catching up, not only to protect it against theft, but also because a patented technology, even with pending registration, becomes a highly valuable intangible asset for the company during fund raising. 
 
It means that these patents serve as a business tool rather than a legal tool, especially for firms that are global in nature because patents command a high premium in international markets like the US and UK. 
 
As per Sharad Sharma, former CEO of Yahoo's India R&amp;D arm and former chairman of Nasscom's product council, 97% of patents filed in India are done by multinationals, which makes these efforts by new age companies a good sign. 
 
<a href="http://www.windowscentral.com/sites/wpcentral.com/files/styles/larger_wm_brw/public/field/image/2014/08/freecharge_lede.jpg?itok=KQKCPIaB">Image source</a>

Attention please PayTM! FreeCharge files patent for OTP alternative

I was compelled to pick my Oneplus 2 handset yesterday when I first heard about the <keyword id="3216446" type="UNKNOWN" weightage="100" keywordseo="FreeCharge-Go-card">FreeCharge Go card</keyword> launch. What would it feel like to use a virtual card, I wondered, as I downloaded the mobile wallet on my phone eagerly. Yep, I was not one of the 15 million users of FreeCharge app till yesterday and here I am using both the app and the newly launched card today. For starters, I feel merely the curiosity of experiencing a transaction using a virtual credit-like card will get a lot of enthusiastic people like me to sign up for the digital card. 
 
What does it take to get one, after all? Just two minutes of your time. Literally! 
 
I was astounded myself when it flashed my own 16-digit card on the screen within two minutes of my entering an MPIN. 
 
 
 
Now, what’s an MPIN for? It’s password protection for your card so that nobody else can access it, and works the same way as your phone lock. The details of your card, therefore, will be visible or accessible only to you when you enter your four digit MPIN. No more shying away from entering your pin details in front of offline merchants or strangers! 
 
Anyway, so here I got my FreeCharge Go card within no time and it looked exactly like a regular card we carry in our wallets today! 
 
 
 
Nice… The next thought is now what? Let’s try to do a transaction. But, how do we exactly use this, where and how will it help to use this card over a debit/credit card? A little bit of reading first would do no harm, I felt. After the research, I decided to get onto using this new little thing for a purchase. Though I began with skepticism quite honestly, but on the way I figured that there’s no algebra or geometry behind using it. It’s in fact used the same way we have been using an ICICI or HDFC or any other bank credit/debit card for that matter. One thing to remember, however, is this card is a PREPAID card, which means your Freecharge Wallet in the phone needs to have enough balance to cover the purchase you are making using your FreeCharge Go card. So, first add money to the Freecharge Wallet and then you are good to go. 
 
So, I headed straight to Flipkart and decided to purchase a watch for a friend who will be turning 28 this Sunday. Watch selected.. Address details added.. and now came the payment stage. I was required to choose the credit card option, copy the 16-digit card number and other details like CVV and expiry date. Now? 
 
 
 
That’s it. At this stage, I felt reassured that its usage procedure is almost same as the other cards, and it can be used on any online payment gateway that supports MasterCard. 
 
After the purchase, every transaction using the card needs to be verified by an OTP as a security measure, I had read up, which is sent to the registered mobile number. In about 30 seconds from the time I made the payment, I got mine too! 
 
Once verified, as per the offer valid for 21 and 22 January, I immediately received Rs 100 cash back in my FreeCharge Wallet on the total amount I paid. Wow, not bad at all! 
 
Another thing - The second time you use the card, the transaction merchant can ask the customer if they’d like them to take the address registered on FreeCharge, just like Facebook. So, it also does away with the problem of typing your details over and over again. 
 
Personally, I found it an extremely effective way of making payments as its doubly secure, seamless, hassle-free, attractive due to cashbacks and discounts, and can be used on all Indian websites and mobile apps. Moreover, one can also avail its benefits at offline stores as the mobile online wallet company has also introduced offline payments a few weeks ago in partnerships with Westlife Development Ltd, owner of the Master Franchisee of McDonald’s west and south India, and Shopper’s Stop. In this case, the customers paying offline need not have to give their pin but rather a changing OTP which is available at all times with or without network on the app. The firm is looking at more partnerships with the offline merchants in the coming months. 
 I think it’s time folks at <keyword id="143842" type="UNKNOWN" weightage="100" keywordseo="Mobikwik">MobiKwik</keyword> and <keyword id="6357120" type="UNKNOWN" weightage="100" keywordseo="PayTM">Paytm</keyword> pull up their socks, because boss FreeCharge Go card can be quite the gamechanger!

I used Freecharge's new FreeCharge Go card
and it's quite the game changer

Three <keyword id="6418358" type="UNKNOWN" weightage="20" keywordseo="Patents">patents</keyword> have been filed by a Gurgaon-based surface transport logistic provider ‘<keyword id="3156357" type="UNKNOWN" weightage="20" keywordseo="Rivigo">Rivigo</keyword>’ in the US for algorithms created by it. This is a rare instance when an Indian startup has filed a patent in the US. 
 Indian startups claim to spend millions on Research and Development but very few of them have filed for patents so as to protect the various technologies they developed in-house. In December last year, digital payments platform <keyword id="6377963" type="UNKNOWN" weightage="20" keywordseo="Freecharge">Freecharge</keyword> had filed for patent for its authentication solutions, termed as 'On The Go Pin,' which is aimed at making both online as well as offline transactions faster, by cutting the delay caused in receiving the OTP through text message. 
Rivigo has come up with an algorithm that deals with managing fuel efficiency and pilferage, availability of drivers in the relay system, and loading plans to help reduce damages to products carried by its trucks. 
 "We have created very sophisticated technologies that have tried to solve multiple problems that currently exist. The algorithms allow us to get the most accurate fuel value, calibrate our fuel sensors and to detect pilferage. They take into account factors such as whether the vehicle is running or not, whether the ignition is off, or even when the network is down, and data may not have come in as yet," <keyword id="1010692" type="PERSON" weightage="20" keywordseo="Hemant-Khandelwal">Hemant Khandelwal</keyword>, chief technology officer at Rivigo told ET. 
 
There are two other technologies for which patent have been filed by the company. One technology takes in account the geo-location and behavioural data to ensure the most suitable drivers are available for the truck run to go off smoothly. The other one is a 3D loading plan that ensures minimum damage to products being transported. 
 
With company filing patents, it is quite clear that it is trying to get into lucrative American market, and possibly licensing the same, providing it an additional revenue stream. 
 
"The solutions we are working on are globally applicable. At the right time in thefuture, we would aspire to take our offerings global. As we do, we want to protect our interests and that is why the need to file patents outside India," said Deepak Garg,CEO of Rivigo.

You Searched For "freecharge On The Go Pin" and got 3 results

Attention please PayTM! FreeCharge files patent for OTP alternative

BI India Bureau

I used Freecharge's new FreeCharge Go card and it's quite the game changer

Anushree Singh

Gurgaon-based startup files 3 patents in the US. Here’s what it does

BI India Bureau

Popular Keywords

Buying Guides