The Luhn Algorithm is an ingenious mathematical formula developed in the late 1950s for verifying the accuracy of identification numbers. It is widely used for payment processing and other financial transactions, ensuring that every number entered into a system is valid and authentic. By utilizing a simple checksum process, the Luhn Algorithm can quickly detect any incorrect entries or irregularities in the sequence of numbers being inputted. Thanks to its groundbreaking design, this algorithm has become an invaluable tool in the fields of finance and investment, allowing organizations to safeguard their data and securely process payments.