PayOne, formerly PaymentOne Corp., a global leader in mobile payments and carrier billing, announced today it has been awarded another patent by the US Patent Office related to the company's PayConnect technology platform, "instant wallet" capability, and intellectual property serving the mobile commerce and digital payments market.
Mobile payments are forecasted to account for $1 trillion in global transactions by 2015, according to Heavy Reading Mobile Networks Insider.
The newly awarded patent, which was filed in November 2010 for invention number 8,379,815, covers mobile payments, fraud control and identity verification for online and in-store transactions. This new patent adds to an already robust portfolio of eight patents awarded to PayOne related to mobile wallet, payments and carrier billing. PayOne's complete patent portfolio can be found at http://www.payone.com/Patents.
"Patent No. 8,379,815 broadens the ability of a consumer to easily complete a frictionless and secure payment online or in-store," said Joe Lynam, President and CEO of PayOne. "PayOne continues to invest in our core digital business, technology, and platform for mobile commerce. This latest patent further advances and highlights PayOne's innovation and leadership in simplifying commerce online and offline with all types of emerging applications, screens, points of sale and mobile devices."
PayOne's patent portfolio covers technology in PayOne's commerce platform including real-time authentication and fraud control, and the ability to use phone numbers and/or mobile devices to validate, execute, and settle financial transactions using a variety of funding methods, including a mobile bill account, credit/debit cards and pre-paid cards, for physical and digital goods and services.