ICAP Patent Brokerage Offers to Sell a Patent Portfolio Disclosing an Important Improvement in E-Commerce Security
Chicago – (August 11, 2011):ICAP Patent Brokerage, a division of ICAP plc, the world’s largest intellectual property brokerage and patent auction firm, and 3M Future LLC have just signed an exclusive marketing cooperation over a patent providing revolutionary credit card security. The invention enables a mobile smart phone to act as a secure and advanced credit card. In addition the technology allows for toll-taking on card payments from these phones. This patent portfolio will allow the owner to move into and sustainably play in the field of payments.
Key Characteristics & Benefits
These fraud proof credit cards should be implemented as a standard applet on smart phones. The frequent usage of the payment facility justifies this.
The owner of a credit card can perform secure credit card transactions. These payments are fraud proof, even if the credit card number and other details are compromised and accessible to fraudsters, because only the owner of the credit card can switch the card ON and OFF from his mobile smart phone.
Any unauthorized use of such protected card is impossible, even with payments to remote merchants via the Internet or via telephone. This is a compelling proposition for the many affluent smart phone owners throughout the world, who were waiting for a secure and easy means to pay for goods and services on the Internet.
An invaluable feature of this invention, unlike the plethora of competitors, is that a credit card secured with this patent will work instantly with any merchant. So the cards can be rolled out rapidly in specific countries or worldwide together with smart phones or smart phone operating systems.
The PSOCA security mechanism as disclosed by the assets is easy to understand for the consumer and can easily be marketed to consumers. Simply put, the card will automatically switch off once a transaction is complete.
Market Potential
This patent portfolio should be of interest to institutions that provide smart phone operating systems, manufacturers of smart phones and banks.
