Firm Seeks Patent For Debit Card BillPayments
SAN ANTONIO - (03/11/05) -- Payment Data Systems Inc. saidThursday it has filed an application for patent protection with theU.S. Patent Office for technology that will enable the first billpayment using a debit card. The technology allows the cardholder touse their stored-value card debit or ATM card to pay local,national, or international bills using their electronic balance.Because the card is not linked to a credit union or bank accountthe technology would allow for 'unbanked' customers to pay theirbills. Payment Data Systems has already licensed the technology toSecure Cash Network for use. However, the technology can also belicensed by any provider or network, including MasterCard, Visa andAmerican Express.