This is necessary, evolutionary technology that aligns with ongoing changes in the payments infrastructure. It is a low capex approach to major improvements in credit card security.
New York, NY (PRWEB) April 27, 2015
ICAP Patent Brokerage announces the availability of a comprehensive smart-card patent portfolio disclosing a comprehensive set of technologies and systems for improving and securing the existing payment card system. This portfolio is available from renowned inventor Moon J. Kim, a former IBM Master Inventor and named inventor on over 120 patents. It is offered as part of the Internet of Things IP Auction 2, with a bidding deadline of July 30th, 2015.
“This is necessary, evolutionary technology that aligns with ongoing changes in the payments infrastructure. It is a low capex approach to major improvements in credit card security,” says Doug Rhoten, Chairman of ICAP Patent Brokerage.
Key Characteristics & Benefits
This portfolio comprises 15 US granted patents and 9 applications, disclosing a comprehensive set of systems for improving and securing the existing payment card system. It contains the work of acclaimed inventor Moon J. Kim, a former IBM Master Inventor and named inventor on over 120 patents. These solutions represent a natural evolution to changes already taking place within the payment infrastructure, with applications for mobile devices, proximity devices, credit card providers, ATMs, Banks, and online payment services. There exists an immediate need for improvements in payment card security, as made evident by losses due to fraud, which are estimated to affect over 10 million people worldwide at a cost of over $50 billion.
The core of the portfolio discloses systems and methods involving a secure credit card with on-board, simplified biometric fingerprint capabilities, RFID, and display. The card can be powered by RF, ambient light or backlight from a point-of-sale terminal or mobile device, RFID coupling, smart IC contact, or battery. Card information is transmitted to the terminal and receives a secure validation code (SVC), after which some combination of a card validation (CVC code) and/or biometric-based user validation code (UVC) are generated and transmitted back to the point of validation. By decoupling authorization of the fingerprint image and the user’s personal information, transmission and data vulnerabilities within the existing payment card system are addressed while consumer behavior remains unchanged.
See the technical description of the secure credit card and payments IP sales offering.
To learn more about the intellectual property available for sale in this portfolio:
Contact Michelle Tyler of ICAP Patent Brokerage at (650) 741-4117 or via email at michelle(at)icapip(dot)com.
If you have a patent portfolio for sale, visit our website to make a patent portfolio submission for an upcoming sealed bid event.
About ICAP Patent Brokerage
ICAP Patent Brokerage is the world's largest intellectual property brokerage and patent auction firm, leveraging the talents of experienced patent brokers to match buyers and sellers for the sale of patents and other intellectual property assets. With multiple transaction platforms and unparalleled industry knowledge, including experience with trademarks, brands, intellectual property licensing, and UCC sales, ICAP Patent Brokerage is the global leader in the transaction of intellectual property.