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Patent Covers Securely Loading Credit Card Credentials into a Mobile Phone Using NFC
Toronto, Ontario (PRWEB) July 09, 2014
XRomb Inc. announced today that the US Patent Office has issued them a patent that covers the most user-friendly way of loading credit card information into mobile commerce applications including the rapidly expanding market of mobile wallets.
The patent for invention number 8,763,896 is a system and method patent for loading a transaction card and processing repayment on a mobile device.
This patent makes claims in connection with our technology that allows easy, secure, and scalable adoption of mobile phone payment technologies for banks, merchants, and consumers, said Valdis Martinsons, Chairman & CEO, XRomb Inc. It demonstrates our ability to deliver on our vision to provide mobile payment systems that offer great user experiences along with best in class security, he said.
This patent comes less than a month after XRomb participated as a guest speaker across North America at a leading executive forum on payment security.
As part of its Intelligent Mobile Platform, XRomb Inc. has Cloud based and NFC based payment solutions for banks and merchants of all size.
"Today's mobile commerce marketplace is growing increasingly competitive with the introduction of new technologies almost daily, and the most successful businesses will be those who leverage their intellectual property to give customers the assurances they are looking for when using this new technology, said Mr. Martinsons. XRomb Inc. has various patents in progress covering the mobile payment ecosystem, and we are anticipating significantly increasing revenues as customers expand their use of mobile payments, he said.
Demand for mobile payment technology and services is growing rapidly as more consumers seek the ease and convenience of making cashless payments without carrying credit/debit cards, and as merchants pursue innovative ways to lower costs, attract customers, and grow customer satisfaction.
XRomb is a leading provider of simple, secure, end-to-end mobile and web commerce solutions. The XRomb Intelligent Mobile Platform allows merchants to deliver mobile commerce to customers. At the same time, it enables banks and card issuers to extend card credentials to mobile customers using tokenization and secure elements which are required for mobile phone commerce. Its FastTouch Mobile Wallet enables the easy addition of Near Field Communication (NFC) payments, Cloud Payments, and Loyalty Programs to be delivered to customers on all major smartphone platforms. For more information, visit http://www.xromb.com.
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