SOURCE: PayOne

PayOne

September 06, 2012 16:00 ET

PayOne Expands Its Mobile Payment Patent Portfolio

Global Leader Awarded Additional Patent for Mobile Payment and Multi-Factor Authentication in Rapidly Growing Mobile Commerce Markets

SAN JOSE, CA--(Marketwire - Sep 6, 2012) - PayOne Corporation, the global leader in mobile payments and carrier billing, announced today the issuance of another patent from the US Patent Office related to the company's PayConnect™ technology platform and intellectual property serving the multi-billion dollar market for mobile commerce and payments.

The patent which was filed in January 2007 for invention number 8,239,325 covers leading edge mobile fraud control and identity verification for mobile payments. This new patent adds to an already robust portfolio of patents related to mobile wallet, payments and carrier billing (see http://www.payone.com/press/press-releases/paymentone-awarded-two-additional-patents%E2%80%94-broadening-its-mobile-wallet-payment).

"This latest patent contains a series of claims that address multifaceted authentication of a mobile user which enables frictionless and secure payments tied to the convenience of the mobile account," said Joe Lynam, President and CEO of PaymentOne. "We continue to expand our patent portfolio which highlights PayOne's leadership in convenient and secure payment technologies for commerce online and all types of emerging applications, screens, and mobile devices."

The patents cover technology in PayOne's real-time authentication and fraud control system. They further cover technology 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.

PayOne offers merchants and publishers an integrated "white label" solution for monetizing single transactions and recurring subscription services with any connected device. The company's industrial strength mobile payment services and PayOne Global Carrier Network™ (PGCN) is available worldwide in over 80 countries with access to over 4 billion consumers.

"Global demand from major brands for robust global payment technology and services are growing rapidly as more consumers seek the ease and convenience of transacting on any device and any application. The most successful providers will provide deep and wide payment coverage, support and expertise, while eliminating friction, fraud and security concerns at the point of sale for consumers," said Mr. Lynam.

About PayOne

PayOne is the global leader in mobile payments and industrial strength carrier billing. The company pioneered "no credit card required" payments and has a 10-year track record in payment services that connect digital merchants, social media publishers, content providers mobile app developers and network operators. PayOne has generated over $5 billion in new digital revenue for brand name clients including Blizzard Entertainment and America Online. The PayOne Global Carrier Network™ covers 80 countries, over 1100 network operators and enables over 4 billion worldwide consumers to do mobile commerce on more than 10 billion connected devices. The company has a robust patent portfolio covering mobile commerce, fraud prevention, authentication, and alternative payments. Previously called PaymentOne, PayOne is profitable, privately held, and based in the Silicon Valley.

Contact Information

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    Twitter: @PayOne