Press Release Services and Business News from Send2Press, a unit of Neotrope, established 1983
Press Release Writing and Distribution
  Tuesday, July 22, 2014 Neotrope®
Public Relations
Press Release Services and Media Relations
Send2Press® - Press Release Writing, Newswire Distribution, Press Release Optimization, Internet Marketing, Podcasting, SEO, Media Monitoring, Media Coaching, News Syndication, Book Marketing, Entertainment News, Web PR, and Media Relations since 1983   media relations
press release writing
Press Release Services and Business News from Send2Press, a unit of Neotrope, established 1983
 
eNewsChannels™
> Ad Industry News
> Aerospace News
> Arts News
> Automobile News
> Biotech News
> Book News
> Business News
> Computer Industry News
> Construction News
> DotCom News
> eBay Auction News
> eCommerce News
> Education News
> eMarketing News
> Entertainment News
> Employment News
> Energy News
> Family/Parenting News
> Fashion Industry News
> Fitness Industry News
> Food & Cooking News
> Graphics News
> Insurance News
> Interior Design News
> Internet News
> Investor News
> Manufacturing News
> Medical News
> Music News
> NonProfit News
> Peace/Ecology News
> Podcasting News
> Political News
> Real Estate News
> Religion News
> Retail News
> Security Solutions News
> Small Cap & OTC News
> Software Industry News
> Sports News
> Telecom News
> Travel Industry News
> TV & Cable News
> VoIP News
> US Newswires
> Business Profiles
> More News Channels
> Today's Headlines

Distribute your News with Send2Press™ Press Release Services

 

Trademark and Patent News
Business News Articles from eNewsChannels™

Article Editor: Carly Zander


U.S. Patent and Trademark Office Grants 'Single Use Credit Card Number' Patent to U.S. Company

NEW YORK, NY and WEST PALM BEACH, Fla. - June 21, 2004 /Send2Press Newswire/ -- The U.S. Patent Office (US PTO) grants the "Single Use Credit Card Number" (one time number) patent to EDI Secure LLLP, it was announced today. Mr. Jeffrey Ice, partner of EDI Secure LLLP, and inventor of U.S. Patent #6598031, brings to the American e-commerce community the layer of protection, which virtually eliminates online credit card fraud on the Internet. This is welcome news, because it relieves the fear of having their credit card account data being exposed to today's highly skilled hackers.

Although the US Patent law 35 U.S.C 154(a)(1) is specific, technology companies inside and outside the United States have offered the "Single Use Credit Card Number" technology to a few large American companies under different trademark names. The "Single Use Credit Card Number" technology can now be widely distributed in the United States as the e-commerce experts once anticipated. The commercialization of the "Single Use Credit Card Number" technology will open up multiple markets and brings tremendous ramifications to the online transaction (e-commerce) industry in the United States.

"Our mission is to bring the technology to the e-commerce community through licensing and white labeling versions of the system to existing processors," said Ice.

"Because most banks use a processor, this will be our largest potential penetration into the industry. The technology will also be sold as a service to larger banks, bank service agencies that charge regular banks in need of our protection and (/or) to card companies who wish to get their cards accepted around the world without the Visa/MC logo. This technology allows the individual to choose at time of purchase any card in their wallet they want to use."

"This is good for the merchant account, because it is considered a "card present" transaction. The supplier would not know the difference in the type of account that was used to pay them for their goods."

EDI Secure LLLP has the Alternative Solution for preventing consumer fraud. This patent has both Software (credit card) and Hardware (debit card) solution potential for secure transactions online.

  1. The Software Solution for the one time system doesn't need a hardware device. Software allows the user to enter their credit card directly on the PC, and that software then would connect to the data center to get the one time number and the transaction would continue until completion.
  2. Hardware Solution for debit cards is needed due to the legal restrictions on those types of cards. This hardware is used to encrypt the data solving the debit card problem.

The firm recently signed a development and licensing arrangement with Tops Transaction Systems, Inc. a company helmed by payment industry pioneers. The deal paves the way for a first in class processing platform that will bring the fraud protection of EDI Secure LLLP's One Time Use technology feature to a wide market.

Recent studies regarding credit card fraud have consumers and major multi-national corporations and small business alike looking for a simple cost-effective solution to this growing problem -- and EDI Secure LLLP has that solution. One time pay is the most secure form of information cryptography... The computer science world considers this to be the ultimate type of cryptography... It has no known attacks of how to recover the original data and the particulars of this system are particularly well suited to monetary transactions through the Internet.

EDI Secure LLLP's patent will allow card processors, like Tops, to offer the One Time Use service to its clients for a small per transaction fee. This is a much more efficient and affordable solution for those clients whose alternatives to date have been to invest in expensive fraud prevention hardware and software that are still susceptible to sophisticated hackers. The EDI Secure LLLP patent will allow businesses to again increase their reach across boarders and not worry about the risks and liabilities associated with having a database filled with their customers' credit card information.

Additionally, e-tailers that were previously victims of fraudulent purchases or as a precautionary measure even stopped selling products that were ordered from certain international countries, will have new opportunities by processing their transactions through an EDI Secure LLLP licensed processor such as Tops. In addition to developing the proprietary processing platform with Tops, EDI Secure LLLP also intends to license the patent to other processors and card issuers and intends to license or litigate against those companies that are currently in violation of its patent.

About EDI Secure LLLP
EDI Secure LLLP is based in New York, New York. EDI Secure LLLP owns multiple patents and patents pending, as developed by Mr. Ice, in the electronic payment sector; specifically covering stored value platforms and transactions. In addition to its One Time Use patent, some of EDI Secure LLLP's other products include micropayment solutions and card-to-card P2P payments.

About Tops Transaction Systems, Inc.
Based in West Palm Beach, Florida, Tops is an innovator of payment software solutions and products for the credit, debit card and stored value industries.



New York Business News is powered by NYnetwire™

Viewed by the media 17978 times (2 today, 40 this month, 431 this year)

FOR INFORMATION ABOUT THE ORGANIZATION(S) MENTIONED IN THE ABOVE BUSINESS NEWS ARTICLE, PLEASE CONTACT THE COMPANY DIRECTLY AND NOT THIS WEBSITE.

DISCLAIMER: the above article is believed accurate but not guaranteed, and is based on business news supplied by the organization mentioned and/or quoted in the story. The organization providing the news to Send2Press is solely responsible for its accuracy. Financial/Stock news may contain forward looking statements and public companies should be thoroughly researched before considering material investment. Neotrope/Send2Press makes no claims of accuracy or suitability for any purpose. Any opinions expressed by representatives of company(s) mentioned in news item are solely those of the person indicated, and do not reflect any opinion or policy of Neotrope/Send2Press. Your use of any information contained herein is done solely at your own risk, and you are fully responsible for using any information herein, or on sites mentioned or linked to in the article. All trademarks acknowledged.

USE OF THE ABOVE NEWS ARTICLE
News is Copr. © 2004 Neotrope/Send2Press. Reproduction of this news article in any form requires written authorization. You may freely link to this article, or republish the "news release" text version linked to above under "Journalist Tools" without restriction except websites must retain /Send2Press Newswire/ as the source. Sites which offer/sell PR services or newswire services may not reprint our content without express written permission.


Business News
More than a Dozen to Perform at Jeff Fest Arts and Music Festival's SUMMER ARTS STAGE
New Discovery Opens the Door to Possible Cure for Heart Disease
EPIC Purchases Jenkins Insurance Services
Annual PR Grant Program for Non-Profits announced by Neotrope to Help Worthy Causes Tackle Earned Media
Asheville National Organization for Women to Hold 'Bitter Pill' Rally Saturday, July 26
Andrea Levin joins EPIC as a Vice President in Petaluma
OpenClose LOS Establishes Secondary Marketing Transparency and Control Across all Lending Channels
International Backup Solutions Company Introduces New Product Line
HTCIA CISO Summit Presents - Lessons from the Field
Four Seasons Featured in National Hospice 'Moments of Life' Campaign
Pope Francis's World Cup Advice Inspires Spirit of True Fraternity Banner for Gay Pride
ImmersiON announces strategic fusion with VRelia
Missouri School Districts Now Offer Employee Benefit Plans and Section 125 Plan Administration from Forrest T. Jones and Company and American Fidelity
It's Not Your Daddy's RV: Luxury RV Rentals Are Filled with Surprises
National LTC Network Celebrates 20 Years of Excellence in Long Term Care Insurance
Regent Education Raises $9 Million to Expand Sales and Support of Financial Aid Management Solutions
EaseUS Provides World-Class Backup and Recovery Solution for Business Environment
Jeff Fest Arts and Music Festival Announces Musical Lineup: Headliners include The Bad Examples, Shape Shifter and Brushville
LTC Global Marketing and LTC Financial Partners Merge to Form Large One-Stop Shop for Long Term Care and Medicare Insurance Solutions
Breaking Down Musical Borders: John Dellroy Band Mixes Genres and Crosses Countries

» View All News
» Press Release Services
» Send2Press Home Page


Add Our News Headlines to Your Website Free
Free headline feed


Journalists & Editors
Choose your news by preferred topic(s).
Privacy protected.
MORE INFO

Most Recent Releases


 Website Search:



Read Recent Send2Press Newswire Stories on:
newswire placement on Google News newswire placement on Yahoo! News
MarketWatch
Finance Canada
FindArticles.com
FURL LookSmart
Google News
Hoovers
Yahoo! News
eNewsChannels™
Yahoo! MyWeb BETA
Get RSS Feed

Subscribe to RSS Feed    Add News to My Yahoo!





INTERNET NEWSWIRE ARCHIVE SPONSORS
View a list of our news archive sponsors

Website Promotion Services and SEO PR

Powered by Neotrope®


Top of Page | Home Page | E-mail This Article to Someone
— PLEASE SUPPORT OUR NEWS ARCHIVE SPONSORS —
Press Release Services from Send2Press
Learn More About Press Release Services & Business Promotion by Neotrope®
Online Newswire Service   |   Press Release Writing Service   |   Media Coaching Service
business news
 Copr. © 1983-2008 Neotrope® — all rights reserved. Privacy/Legal Statements 
Press Release Writing
Business Press Release Services | Compare News Distribution Plans | Agency Program | How to Order
PR Services Add-on Options | Price List | SEO+PR™ Services | Press Release Writing | Publication Lists
Client Testimonials | Recent Clients | About Us | Contact Us | Newswire Channels | Site Map
Podcast Coaching Services | Press Release Optimization
News About Send2Press | Send2Press Weekly Podcasts | RSS/XML Feed

Free News Articles

business promotion services, web promotion, press release services, business news