Atlanta, September 28, 2011: SecuredPay Solutions publicly announced today that they have been issued their company's 2nd U.S. Patent that covers Electronic Real-Time Payments on Wireless Mobile Devices.
Online PR News – 29-September-2011 – – Atlanta, September 28, 2011: SecuredPay Solutions publicly announced today that they have been issued their company's 2nd U.S. Patent that covers Electronic Real-Time Payments on Wireless Mobile Devices. "...our patent covers electronic payments on the vast majority of today's wireless devices, from the latest cell phones to the ever increasing number of tablets we are seeing in the market. Any device that is processing secure real-time payments and not saving the customers card data on those devices - which is a huge security concern if they are - is likely to be covered under our patent. And now that we have our 2nd patent in place we are looking to partner with or license to companies that are already in this space, or those looking to establish control of this space..." says SecuredPay's CIO Lance Larsen.
"SecuredPay was formed to address real security concerns regarding who has access to a customer's card data and how that data is stored. A merchant's minimum standard should be to protect their customers' identity" said Roy T. Nelson, SecuredPay Chairman and original co-founder of the nationwide Melting Pot fondue restaurant chain.
John M. Johnson, SecuredPay's Executive Vice President of Business Development stated that "...SecuredPay's proven track record in the financial industry and proven approach to being ahead of the technology curve has positioned us very well to assist other companies that are emerging in this market space."
John also notes "...recent events have shown us that the market demand for the control of intellectual properties related to wireless devices and wireless processing is heating up, as evidenced in part by the latest patent bidding wars between companies including: Apple, Microsoft and Google. They obviously see the advantages of controlling the patents that will shape the future of mobility and how merchants and customers alike will leverage the devices that are in everyone’s pockets."
SecuredPay was the first company to obtain PCI ("Payment Card Industry") certification for SWIPE (“Secured Wireless Internet Payment Environment”), a product which allowed PIN debit card acceptance on a Windows based mobile wireless device using a virtual PIN PAD. "We have a solid record of successful development partnerships with companies such as HP (Hewlett Packard), Epson, TRENDnet Networking, TokenWorks Inc. and WaveSoft Technologies Corp. Overall SWIPE successfully proved our "Never Leaves the Customer's Hand" philosophy in several restaurant hospitality environments."
SecuredPay's President Chris Faircloth stated "...leading industry sources have projected an estimated $984 billion dollar wireless mobile payment industry by 2014. As part of that market, SecuredPay, and those with whom they partner, will have the real ability to shape the mobile payment industry not only now, but for the foreseeable future."