CardinalCommerce, the pioneer and global leader enabling remote commerce, announced today it has received new intellectual property protection with regard to technology that expands its Universal Merchant Platform invention, related to its tokenization technology, in the form of patent US 8,645,266 B2.
The United States Patent and Trademark Office (USPTO) awarded Cardinal the patent on February 4, 2014.
Cardinal's Universal Merchant Platform technology includes a system for securely processing Consumer Authentication for applications including eCommerce. The company's patents on the invention date back to 2002. The new patent provides further and strengthened protection for Cardinal's tokenization technology within the Cardinal Centinel® platform.
"This new patent shows that Cardinal was and is ahead of the curve in tokenization technology," said Cardinal's Chief Executive Officer Mike Keresman. "Our Customers can rest assured that we will continue to invest in this and other technologies to keep data secure. Their One Connection to Cardinal will help FutureProof their payment needs."
Cardinal's tokenization technology provides a one-time-use number to represent a credit/debit card number. This random token flows through the payment system and reporting infrastructure, easing the challenge to handle omni-channel business while protecting the transaction. Because the token is in the same form as a card number, it introduces little or no change in order management systems and gateways.
Using Cardinal's tokenization technology, merchants can process alternative payment brands in the same way they process standard cards, giving them more flexibility in accepting payments and allowing their Customers more payment options. Tokenization also reduces the scope of PCI audits, because with it, credit card information never resides in merchant order management systems. Cardinal's SafeCloudTM technology and architecture makes tokenization immediately available to current and future Cardinal Customers.
According to Paul Turgeon, Product Delivery Vice President at CardinalCommerce, "The additional technology we developed for tokenization gives our Customers the security of knowing that they are protected from theft of their Customers' data, since card information never enters their systems. If the random tokens were to be stolen, they would be useless because the numbers have no correlation to actual card numbers."
Cardinal's patent portfolio includes 36 issued patents and approximately 100 patent applications pending.