This technology will revolutionize security for the credit card and personal identification industries. It is a viable solution to the ongoing plastic card fraud epidemic, which costs consumers, merchants, and card providers billions annually.
New York, NY (PRWEB) August 26, 2014
ICAP Patent Brokerage announces for sale and license patents disclosing a convenient, card-based biometric system which personally ties a credit card to the user, protecting the transaction chain from start to finish, without requiring any modification to existing card readers. This IP package is available from LaserCard, LLC, as part of the Live Financial Auction Series, with a bidding deadline of October 23, 2014.
“This technology will revolutionize security for the credit card and personal identification industries. It is a viable solution to the ongoing plastic card fraud epidemic, which costs consumers, merchants, and card providers billions annually,” says Dean Becker, CEO of ICAP Patent Brokerage.
Key Characteristics & Benefits
The IP assets available in this portfolio involve a standard-sized credit card with magnetic stripe. A Host, just 1mm larger, encases the card, utilizes an advanced fingerprint reader, and contains the customer’s ID and credit card data. To use the card, a consumer places their finger on the Host sensor. The authenticated card is removed and used like a normal credit card. The entire financial transaction chain is secured with LaserCard’s dynamic PIN, which rotates for each transaction, so the card number is never the same.
Everything for LaserCard to function is contained within the card. No changes to the magnetic stripe infrastructure, no changes to card readers, no change for the retailers, and no external databases are required. LaserCard’s technology also applies to chip and PIN, RFID, laser, and barcode plastic cards, and is ready to be integrated into smartphones. Authorization of secure transactions occurs seamlessly over existing networks. Tampering with the Host or trying to extract the data results in its destruction.
Financial institutions using LaserCard will save huge sums of money while cost of implementation and continual use is minimal. This technology would have prevented the use of the stolen credit and debit card numbers from the recent Target and Neiman Marcus security breaches. LaserCard eliminates the skimming and cloning of credit cards and makes the theft of credit card numbers irrelevant.
Forward citing companies include International Business Machines Corp., Sandisk Corporation, Intellectual Ventures Management, Llc, Safeway Inc., Ablecare Medical, Inc., Blackhawk Marketing Services Inc, Cedar Ridge Research Llc, Dynamics Inc, Fiteq Inc, Innovation Connection Corporation, Privasys Inc., Rampart-id Systems Inc, Solicore Inc., and Veritec Inc.
See the technical description of the transaction card system sales offering.
To learn more about the intellectual property available for sale in these portfolios or to place a bid:
Contact Doug Rhoten of ICAP Patent Brokerage at (201) 788-8898 or via email at doug(at)icapip(dot)com.
If you have a patent for sale, visit our website to make a patent 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.