|By Business Wire||
|August 26, 2014 06:00 AM EDT||
Sequent Software, the world’s leading provider of digital issuance and open wallet platform-as-a-service, announced today that it has been awarded a key patent for simplifying mobile payments and enabling fast and seamless transactions at merchants through the “One Tap” mobile payments functionality. With one tap functionality, mobile wallets can transmit multiple cards--such as payment, loyalty, coupons and offers--at the same time to a merchant’s point of sale (POS) system. This key mobile payments feature is available to any mobile app that uses Sequent’s platform and APIs.
“One tap functionality is arguably more important to mobile payments than ‘one click’ functionality was to e-commerce,” said Robb Duffield, Sequent CEO. “By enabling coupons, loyalty and payment cards to be transmitted simultaneously to POS systems with a single tap of a phone, Sequent simplifies the cumbersome checkout process that forces consumers to carry multiple cards and coupons in stores today.”
The United States Patent number 8,811,895 covers the transmission of multiple digital accounts from a mobile device to a merchant POS system via Near Field Communication (NFC) technology. This comprehensive patent covers any two or more digital accounts being transmitted at the same time including credit, debit, prepaid, offers, loyalty, coupons, vouchers and more.
“This patent award combined with our recently awarded patent on technology that easily turns apps into wallets and our patent-pending IP places Sequent in an excellent position to enable the next wave of innovation in mobile commerce: mobile app transactions in the physical world,” said David Brudnicki, Sequent CTO. “By leveraging our platform banks, merchants and others can add this key functionality to their apps and offer the best, most intuitive payment experience to consumers.”
Sequent is the world’s leading provider of digital issuance and open wallet platform-as-a-service that delivers secure mobile payments and value-added services to banks, mobile operators, merchants and access control providers. With Sequent, customers can extend digitized cards to trusted applications for an open ecosystem of partners and developers while maintaining the strictest requirements of highly secure, regulated industries. Sequent products include: Open Wallet Platform, Digital Issuance and Trust Authority. Sequent is endorsed and used by major customers on four continents. For more information visit www.sequent.com, follow us @sequentsw.