Monitise was awarded a UK patent for a “virtual payment card” that will allow consumers to make payments in shops and online with their mobile phone without divulging their card details, the company said Sept. 13.
The virtual card acts like a prepaid digital voucher and can be created for a fixed amount or for a specified period of validity. Consumers then can make purchases in stores or on the Internet without having to divulge data from their credit or debit cards, such as personal account numbers, card expiration dates and security codes.
“Our innovative technology allows consumers to shop in situations where they have credit and debit cards but don’t want to use them or they don't have access to such cards,” said Alastair Lukies, chief executive of Monitise. “Whether it is a consumer setting up a prepaid voucher for themselves, a family member or friend to shop, or a consumer without access to bank accounts, we help people shop when they want and how they want securely and simply.”
