Payment Data System sells bill payment patent to PCT Software Data

Source: Payment Data System

Payment Data System, Inc. (OTCBB:PYDS) today announced that it has completed the sale of selected patents and patent applications to PCT Software Data, LLC for net proceeds of approximately $750,000.

The patents and patent applications sold relate to bill payments made with debit and stored value cards.

Payment Data Systems, Inc. retains a worldwide, non-exclusive license under the patents for use with all current and future customers.

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