Quisk Issued U.S. Patent for Security of Mobile Payment System

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Innovative Quisk security feature empowers consumers to set security elements for mobile payments and digital cash solutions.

Quisk, Inc. announced today it has been awarded a U.S. patent for enabling consumer activated security for a mobile payment system. Security is acknowledged as a top consumer concern for using a mobile payment system in research surveys from multiple countries. However, most security features are taken out of the hands of consumers, involve complicated risk engines, and unnecessary delay. This Quisk security innovation enables consumers to “lock” their digital cash account anytime, anywhere to prevent unauthorized usage.

The recently issued patent is U.S. Patent 8,788,389: “Methods and Systems for Providing a Customer Controlled Account Lock Feature.” This account locking capability is a security feature for Quisk’s patent-pending digital cash payment platform. The Account Lock Feature puts security into the hands of consumers by enabling them to easily and conveniently customize the level of security on their Quisk digital cash account, which would be domiciled at a bank. The various account lock features can be activated and deactivated at any time, further protecting the consumer’s digital cash.

The Account Lock Feature is just one of many innovative security features engineered into the Quisk digital cash platform. No identifiable account numbers are stored or transmitted – a consumer accesses their Quisk digital cash account using their mobile phone number and a unique PIN. Quisk account holders receive real-time SMS messages of each digital cash transaction, including retail sales, P2P, Bill Pay and eCommerce. They also have real-time on-line access to all Quisk transactions through their bank portal.

In addition to these innovative, consumer-facing security features, the Quisk platform utilizes state-of-the-art encryption technology, tokenization, and risk management.

“Security is of paramount importance to Quisk, and we have appropriately invested to ensure we build state-of-the-art capabilities,” said Steve Novak, Chairman and C.E.O. of Quisk, Inc. “Digital cash must be more secure than the credit card paradigm from the last century.”

About Quisk

Quisk, Inc. is a Silicon Valley-based technology company that digitizes cash and partners with financial institutions and others to provide safe, simple and secure cash-less transactions for anyone with a mobile phone number. Deploying cloud-based technology, the Quisk digital services platform not only works with any mobile phone number on any type of mobile phone, but also leverages existing Point-Of-Sale (POS) infrastructure.

The Quisk team is comprised of technology and payments industry veterans from Cybersource/Visa, Paypal, Apple, and HP. Quisk headquarters are in Sunnyvale, CA, with an additional office in Louisville, KY. Quisk operates in the MENA region through its subsidiary, MOBIbucks FZ LLC located in Dubai, U.A.E. Learn more at: http://www.quisk.co

Related resources:
Quisk company overview
Quisk digital cash solution brochure
Quisk “The Next Step in the Evolution of Money” brief
Quisk “The Future of Money” white paper
Quisk platform data sheet

Media contact:
Dan Glessner, Chief Marketing Officer
Quisk, Inc.
408 462 6971

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Dan Glessner
Quisk, Inc.
+1 408 462 6971
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Quisk, Inc.

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