US patent application 12/650,278 represents a growing trend in the integration of credit card transaction technology and smartphones.
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Santa Cruz, CA (PRWEB) November 16, 2011
Legacy IP announced today they're exploring the sale and or licensing of their US patent application 12/650,278, entitled “HAND-HELD ELECTRONICS DEVICE FOR AGGREGATION OF AND MANAGEMENT OF PERSONAL ELECTRONIC DATA.” The application reads on a smartphone with credit card management and transaction technology.
"In 2008 we invented a new smartphone that incorporates the technology of both contact and contactless credit cards. Our idea merges a smartphone with credit card and smart card transaction capabilities to create the world's first digital wallet. The invention enables the user to store and access all their credit card and personal identification data within a smartphone. Once the data is captured the user can access any of their credit cards by selecting them through the associated software app. Once the user has selected the credit card they'd like to use the card data is written to an internal rewritable blank smart card which is stored within the smartphone, after which the card ejects and is ready for use in transactions” according to Peter Garrett, CEO of Legacy IP.
“US patent application 12/650,278 represents a growing trend in the integration of credit card transaction technology and smartphones. With the launch of Google’s Mobile Wallet and Google’s recent acquisition of Motorola Mobility we’re confident this market will continue to expand and the demand for IP that reads on this technology will grow with it,” said Paul Regen, President of Legacy IP.
Legacy IP’s smartphone IP portfolio continues to grow. At present there are three applications (12/650,278, 12/651,214 and 12/559,671), all with filing dates reaching back to 2008.
About Legacy IP:
Legacy IP (http://www.Legacy-IP.com) was founded in 2008 by inventors, engineers and marketers with a combined Intellectual Property development history of over 50 years. Legacy IP is an intellectual property invention company that creates, patents, and monetizes its own inventions with an emphasis on inventing new IP in consumer electronics, biomedical, medical and other life sciences.