The invention enables a mobile smart phone to act as a secure and advanced credit card. In addition the technology allows for toll-taking on card payments from these phones. This patent portfolio will allow the owner to move into and sustainably play in the field of payments.

Key Characteristics & Benefits

These fraud proof credit cards should be implemented as a standard applet on smart phones. The frequent usage of the payment facility justifies this.

The owner of a credit card can perform secure credit card transactions. These payments are fraud proof, even if the credit card number and other details are compromised and accessible to fraudsters, because only the owner of the credit card can switch the card ON and OFF from his mobile smart phone.

Any unauthorized use of such protected card is impossible, even with payments to remote merchants via the Internet or via telephone. This is a compelling proposition for the many affluent smart phone owners throughout the world, who were waiting for a secure and easy means to pay for goods and services on the Internet.

An invaluable feature of this invention, unlike the plethora of competitors, is that a credit card secured with this patent will work instantly with any merchant. So the cards can be rolled out rapidly in specific countries or worldwide together with smart phones or smart phone operating systems.

The PSOCA security mechanism as disclosed by the assets is easy to understand for the consumer and can easily be marketed to consumers. Simply put, the card will automatically switch off once a transaction is complete.

Market Potential

This patent portfolio should be of interest to institutions that provide smart phone operating systems, manufacturers of smart phones and banks.

* Global e-commerce revenues are estimated to grow 19% in 2011 reaching $680 billion by the end of the year with 60% of global consumers using their credit cards for online purchases.(1,2)
* In the US alone, ee, e-commerce transactions totaled $165 billion in 2010.(3)

"Mobile payment systems will be at the forefront of e-commerce in the future, and securing these systems from unauthorized access or hacking will be critical for their use and adoption by end consumers," says Dean Becker, CEO, ICAP Patent Brokerage. "This technology should be of interest to financial institutions, smart phone manufacturers, smart phone developers, e-commerce companies, or any other organizations looking to enter this fast growing space."

To learn more about the assets available for license in this portfolio:

Contact Dean Becker of ICAP Patent Brokerage at Dean.Becker@us.icap.com

About ICAP Patent Brokerage

ICAP Patent Brokerage is a division of ICAP plc and the world's largest intellectual property brokerage and patent auction firm.