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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

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.

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

Few days after <keyword id="541988" type="COMPANY" weightage="20" keywordseo="SnapDeal">Snapdeal</keyword> filed patent for its indigenously developed payment platform, <keyword id="143842" type="UNKNOWN" weightage="20" keywordseo="Mobikwik">Mobikwik</keyword> has now requested for patent for its power wallet. 
 
Mobikwik’s power wallet, customers can make payments on the retailer’s platform without being re-directed to Mobikwik for payments. 
 
Snapdeal-owned Free-Charge had filed patent for its alternative to the SMS-based one-time-password. 
 
Mobikwik claims almost 100% success rate in processing payments compared with the industry average of about 60%. 
 
"The implementation of power wallet can also be done through tap payments or through the nearfield communications technology where retailers can accept contact-less payments," Bipin Preet Singh, founder and CEO of Mobikwik told ET, adding “it is a pretty unique proposition; worldwide there is no such thing since a person's identity, authentication and payment can all be done under the retailers interface by using the underline technology system off the shelf.” 
 
It seems filing patents has become a fad among new age payment companies.

After Snapdeal, Mobikwik files patent for payment platform

New Delhi [India], December 21: While making significant strides in various sectors, there are leaders in India who are standing out for their work worldwide. The "Global <keyword id="397956" type="General" weightage="20" keywordseo="indian-leaders" source="Orion">Indian Leaders</keyword> 2023" list curated by World Brand Affairs has featured leaders from across the country who are known for their innovative, resilient, and persistent approach to functioning in their respective industries. These people are heading towards new heights and establishing standards for excellence. The list honors their outstanding efforts and accomplishments which have propelled their companies to unbound success. Their inclusion in the list highlights their exceptional abilities to navigate challenges, adapt to changing market trends, and consistently deliver groundbreaking results. Gaurav Munjal, CEO of Unacademy Gaurav Munjal is the co-founder and CEO of Unacademy, India's largest online learning platform. With a vision to democratize education, Munjal pioneered Unacademy's growth, transforming it into a leading ed-tech powerhouse. His innovative leadership has revolutionized accessible and quality education, empowering millions of learners across the globe. Kunal Shah, Founder of CRED Kunal Shah is the founder and CEO of CRED, a fintech startup revolutionizing credit card payments in India. As a serial entrepreneur, Shah previously founded FreeCharge, later acquired by Snapdeal. His innovative approach to creating rewarding credit experiences has helped CRED to redefine credit card usage while fostering financial literacy. Ashish Hemrajani, Co-founder and CEO of BookMyShow Ashish Hemrajis the co-founder and CEO of BookMyShow, India's leading online entertainment ticketing platform. Hemrajani's unique idea revolutionized the way people book tickets for movies, events, and live performances. His ingenious leadership transformed BookMyShow into a cultural phenomenon, reshaping the access to entertainment industry across the country. Fardin Sheikh, Managing Director at Wizence Group Fardin Sheikh is a seasoned professional with over 25 years of exemplary leadership experience, earning him recognition as a Distinguished Digital Transformation Leader. His dynamic career spans across various roles, showcasing a remarkable blend of strategic vision, project management acumen, and a strong commitment to driving digital innovation. Pariksha Rao, Founder of NuWe Starting as a Clinical Nutritionist, Pariksha Rao has morphed into various roles with the intent to help demystify and democratize healthcare. From maternal well-being to fetal health and tailored nutrition for weaning kids to teens, her work has helped impact over 200,000 lives over nearly two decades of her career. She continues to amplify her impact with NuWe. Poojaa Choprah, CEO and MD of Felix Impex Poojaa Choprah, a visionary CEO &amp; MD of Felix Impex Pvt Ltd., and founder of PNA ORIGINE, is renowned for strategic business acumen and market expansions. A trailblazer in entrepreneurship, her global fashion insights, artistic fervor as a Kathak dancer, and bespoke training expertise redefine success, weaving innovation and cultural fluency into her vibrant career. Amandeep Kaur Khangura, Director of Tru Prime Amandeep is a Canadian born entrepreneur who moved to India in 2011, and acquired Indian Citizenship to follow her passion to bring social empowerment in rural Punjab. During her time in Canada, Amandeep chaired HR &amp; Finance for a $500M project. Currently, in India, she operates Majara Dairy Farm which has 2,600 livestock and is the largest dairy farm operator in Punjab and one of the largest in India. Pt. Dr Sanjeev Kumar Srivastava, Nadi and Vedic Celebrity Astrologer Renowned globally as a luminary in Nadi and Vedic astrology, Pt. Dr. Sanjeev Kumar Srivastava is celebrated across 70+ nations for his remarkable precision in predictions &amp; teaching Nadi Astrology. With an illustrious career spanning 27 years, his astonishing success rate of 95-97% and expertise in Nadi Nakshatra Sutras exemplify his command in the celestial arts. Dr Prachiti Punde, Director of Proluxe Dr Prachiti Punde is a powerhouse in Integrated Medicine, Director of Proluxe Pvt Ltd, and Mrs. Universe Tolerance 2021. She transforms health and lifestyle with an exclusive GLAMOWELL multi-experience centre and revolutionizes wellness with patented tools and a unique mobile app. Along with being a spiritually blessed child, she is also an Anesthetist and mindskills Trainer with 15+ books published. Sanju Pudyandil, Founder of Whitespace Brand Consulting Sanju Pudyandil, a luminary in brand management and marketing, launched Whitespace Brand Consulting after honing his expertise at Ray+Keshavan, presently Super Union. Renowned for orchestrating transformative corporate revamps, he spearheaded impactful makeovers for illustrious brands like Canara Bank, Trident Hotels, J&amp;K Bank, Punj Lloyd, CEAT Tyres, and Fair &amp; Lovely, among others. Stuti Galiya, Partner at Khaitan &amp; Co. Stuti, an esteemed Advocate and solicitor, serves as a Partner at Khaitan &amp; Co., excelling in mergers &amp; acquisitions, private equity, corporate laws, commercial contracts, and foreign investments. Recognized as the "Luxury Retail Lawyer of the Year 2023" by APAC Insider, her expertise in the luxury retail sector marks her as an ingenious leader in the Asia-Pacific legal domain. Srividhya, Founder of HITECH Engineering Solutions (India) Srividhya, founder of HITECH Engineering Solutions (India) holds a deeply rooted legacy in Construction since 1998. Her indomitable optimism defied industry challenges, establishing a prominent platform despite male-dominated norms. Under her guidance, the company thrives as a certified SSI unit with ISO 9001:2015, ISO 14001:2015 &amp; OHSAS 4500: 2018 qualifications, renowned for cost-effective solutions nationwide and across Asia. Debabrata Sarkar, CMD at MicroAlgae Solutions Debabrata Sarkar is an agricultural innovator with 26+ years of global experience. Armed with a BCKVV agriculture degree and IIM Kolkata alumni status, he led strategic units for esteemed firms in Asia Pacific. He is currently serving as the CMD at MicroAlgae Solutions India Pvt Ltd, a subsidiary of AlgaEnergy Spain. Mogilipuri Krishna Chaitanya, Director at Wonder View Media As a Director at Wonder View Media Pvt Ltd, a CMPTL franchise specializing in IT services and Business Consulting, Mogilipuri Krishna Chaitanya facilitated substantial growth for his brother's business. With over 9 years of experience, he continues to excel as a Software Engineer at Tata Consultancy Services (TCS) and has made significant contributions to tech giants like Apple, Google, and more. Subhajit Banik, Founder of Birdlens Creation Subhajit ventured into photography in 2007 as a model, cultivating expertise in lighting and creative framing. Winner of the Glamhunt competition by ABP group in 2010, he founded Birdlens Creation in 2015. Specializing in wedding photography, Subhajit crafts timeless, emotive images reflecting couples' love and joy. Dr Rahul Mirchandani, Chairman &amp; Managing Director of Aries Agro Limited Dr Rahul Mirchandani, ranked among the 30 Most Innovative CEOs in India, has pioneered unique strategies to build 130+ Aries specialty crop nutrition brands. With a PhD in Management Studies, he teaches Marketing, Innovation, and Entrepreneurship across 50+ B-Schools. He plays key roles in CII's agriculture council, and key governmental panels and was the National Chairman of CII's Young Indians. Vinay Kumar Singh, Executive Director and CEO of Thomson Digital and Q&amp;I (India) Vinay Kumar Singh is the Executive Director and CEO of Thomson Digital and Q&amp;I, with over 30 years of industry expertise. He pioneered Thomson Digital in India and globally, founding associated companies and an education technology startup. Specializing in scientific and educational content, Vinay completed his Executive Training Programs at ISB Hyderabad. Saurabh Gupta, Founder &amp; CEO of Verismart.ai A 3-time entrepreneur and angel investor in 9 deep tech firms, Saurabh Gupta is now leading Verismart.ai which pioneer in blockchain-based Ad-tech/Data Interoperability platform with over 520M+ users data pipeline while ensuring privacy compliance. He also acquired dolphinchat.ai., and has been a speaker at 50+ global conferences talking about Blockchain and data privacy. Vikkas K Jha, Founder of Brand Kettle Vikkas K Jha, an ace marketing professional turned visionary entrepreneur, founded Brand Kettle amidst the pandemic. With expertise in Commercial Fitouts, Retail Roll-Outs &amp; experiential marketing, he expanded Brand Kettle's services, integrating 30+ brands, within 3 years. He is also driving impactful social change via the Brand Kettle Foundation's NGO initiatives. Atharva Bahadur, CEO of Drishti Pures Atharva Bahadur is the CEO of Drishti Pures in Lucknow. Under Atharva's leadership, Drishti Pures, a pioneering endeavor, engages abandoned, differently-abled children in producing Cold Pressed Oil and processing pure spices, aiming to foster self-reliance among them. Currently housing 260 abandoned children, Drishti remains the largest institution of its kind globally. Harsh Niwas, Manager Legal and Team Lead at Unitech Limited Harsh Niwas is an international consultant having more than 12 years of experience in the Real Estate and Mining industries. His expertise lies in project management, legal strategy, and stakeholder communication, delivering successful outcomes and operational efficiency. Known for strong leadership, negotiation, and collaboration skills, he ensures compliance and value creation within teams and organizations. Hussain Kalsekar, Founder and CEO of 366 DigitX Renowned for fostering enduring relationships with corporate decision-makers, Hussain Kalsekar has steered 366 DigitX to unparalleled heights. His client-centric approach has garnered him accolades globally. Recognized as one of the top 100 smartest digital marketing leaders by the World Marketing Congress, he was also recently honored among the Top 50 Global High Flyers and awarded as the Leader in Digital Marketing for 2023. (ADVERTORIAL DISCLAIMER: The above press release has been provided by PNN. ANI will not be responsible in any way for the content of the same)

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Attention please PayTM! FreeCharge files patent for OTP alternative

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

BI India Bureau

After Snapdeal, Mobikwik files patent for payment platform

BI India Bureau

Global Indian Leaders of The Year 2023 as per World Brand Affairs

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