21 July 2017
visit www.avoka.com

NPCA nabs patent for decoupled debit on mobile

29 June 2012  |  2261 views  |  1 Source: NPCA

National Payment Card Association (NPCA), the nation's only provider of merchant branded PIN-based debit cards with hundreds of thousands active in the market, today announced it has been issued a third United States patent in the area of decoupled debit technology.

This most recent patent is in the rapidly emerging mobile payments area. "Decoupled debit" payment methods refer to situations in which a US checking account holder from any bank or credit union is able to accomplish an electronic payment without needing to use a card issued by the bank or credit union they have their checking or debit card with. NPCA's decoupled debit technology is of particular interest to merchants seeking to have the lowest method of payment settlement fees in the marketplace, which now includes mobile payment.

The patent is United States Patent Number 8,205,791, titled "Payment System and Methods". The patent contains 28 claims, including various independent claims for a consumer to fund a mobile wallet via an ACH payment method for the holder of a United States checking account with a financial institution to accomplish a purchase at a retail site. Some examples of a payment token useable by consumers include a smart phone, a cellular device, and a wireless device.

"With the emergence of mobile payments as an option, merchants are seeking methods of payment that represent the lowest transaction cost to them while at the same time allowing consumers to use the convenience of a mobile devices," said Joe Randazza, CEO and President of NPCA. "This patent is a logical extension to our current patent portfolio." NPCA will be making announcements over the next several months that its mobile payment settlement platform has been selected by various merchants and POS vendors.

Comments: (1)

Ketharaman Swaminathan
Ketharaman Swaminathan - GTM360 Marketing Solutions - Pune | 03 July, 2012, 16:14

Decoupled debit pioneer Tempo Payments shut down a year or two ago following a losing battle to enter the mainstream. Google Wallet and other mobile payments are struggling to gain mainstream adoption. When you combine the two, you surely get a patent but only time will tell whether commercial success will follow.

Be the first to give this comment the thumbs up 0 thumb ups! (Log in to thumb up)
Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
visit www.worldpaymentsreport.comvisit www.ncr.comvisit vasco.com/news/PSD2-compliant-solutions

Top topics

Most viewed Most shared
German fintech factory FinLeap raises EUR39 millionGerman fintech factory FinLeap raises EUR3...
12843 views comments | 19 tweets | 15 linkedin
Mastercard to buy AI outfit BrighterionMastercard to buy AI outfit Brighterion
8908 views comments | 14 tweets | 20 linkedin
Barclays rides payments-as-a-service wave with investment in Form3Barclays rides payments-as-a-service wave...
8094 views comments | 16 tweets | 12 linkedin
hands typing furiouslyThe Digital Trade Chain: the blockchain tr...
7810 views 0 | 5 tweets | 16 linkedin
Mastercard and Scotiabank join Enterprise Ethereum AllianceMastercard and Scotiabank join Enterprise...
6527 views comments | 25 tweets | 15 linkedin

Featured job

Competitive
Frankfurt, Germany or CEE Region

Find your next job