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An article relating to this blog post on Finextra:
MasterCard has acquired Dublin-based card security company Orbiscom for a maximum consideration of $100 million.
05 Jan
As the inventor of the PATENTED system (6931382 USPTO) that enables cardholders to set their own user limits for their real card accounts, this validates all the work I have done to design and create this patented system.
ORBISCOM's patents (tagged as 6636833 and 7136835 USPTO) are clearly limited to what they call 'limited use' card numbers which are associated to a 'master' card account. My patent also referred to 'limited use' card numbers by stating that unlike 'limited use' card numbers, my system protects the real card number by enabling cardholders to set their own user limits.
ORBISCOM's claim to fame is 'limited use numbers'. Their patents claim that these limited use numbers can be issued with preset limits, which once surpassed, will deactivate the limited use number.
Marite Ferrero
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This post is from a series of posts in the group:
A community for discussing investments made in financial technology providers by the venture capital and private equity community.
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