NewswireTODAY - /newswire/ -
Denver, CO, United States, 2010/11/12 - AmiCOUR IP Group announced a new data security system patent grant for its client Pen-One, Inc. The patent joins the Pen-One portfolio of patents used to secure credit card and mobile banking transactions.
AmiCOUR IP Group today announced a new patent grant for its client, Pen-One, Inc, which relates to essential data security system technology. The USPTO issued patent number 7,822,232 for a Data Security System on October 26, 2010. The patent joins a larger Pen-One portfolio of patents for use securing credit card and mobile banking transactions, which is currently being offered for sale by AmiCOUR IP Group.
“This additional patent increases the value of Pen-One’s IP portfolio and directly compliments patent 7,047,419 which has broad claim coverage applicable to mobile phone based payment systems and other applications requiring secure data exchange,” stated Tony Escobar, Executive Vice President at AmiCOUR IP Group. “We are continuing to receive interest from traditional players in the payment card industry as well as companies who are clearly innovators. We’re watching the barriers to US deployment of phone wallet technology go away.”
“The trade press is following how the industry is moving smartphones into EMV payments, including Europay, MasterCard, and Visa transactions,” explained Escobar. “Many of these first movers in mobile payments, like the Square attachment and CreditCall, involve a third piece of hardware or external system. Pen-One pioneered integrated authentication to seamlessly merge security into the process. They can provide an instant solution at the point of sale where mobile payment service is needed.” The new ‘232 patent states, “The biometric authentication occurs in a seamless manner and is incidental to the data request enabling user identity authentication with each request to access secure data.” Trade publication Payments Cards & Mobile recently published Arthur D. Little’s prediction that “m-payments” (mobile payments) in Mexico, Brazil, Russia, India, and China will rise to $60 billion in the next 5 years.
Earlier this year, AmiCOUR announced plans by Pen-One and its parent company, Canadian security leader Verimetrics Canada Inc., to offer certain intellectual property assets for sale and assignment. Verimetrics’ management decided to focus on its leadership in data security and health care products in the Canadian market, recognizing that Pen-One’s US and international payment security patents would be strategic to leaders and innovators in the mobile banking and payment card industry. The company has successfully demonstrated its security products at the Cartes show in Paris and the MasterCard Global Risk Management Symposium. Many of the Pen-One patents have been cited in newer patents and applications by industry participants, including American Express and its Travel Services.
Escobar explained, “The Pen-One patents teach several approaches for delivering instant and secure identification of the owner of a mobile computing device by using local processor resources. Placing electronic fingerprint sensors on secure smart phones is an easy and reliable approach allowing customers to store their personal biometric data away from central servers. Other Pen-One art relates to a fingerprint sensing stylus for use at a credit card terminal. This portfolio is also broad enough to address many other types of biometrics.”
About AmiCOUR IP Group, LLC
AmiCOUR IP Group, (amicourip.com) a leading intellectual property consulting company providing IP asset management and consulting services, litigation support, royalty audits, and patent management software tools. The company’s brokerage sale team is exclusively managing this sale.