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NetSpend Announces Issuance of US Patent

09-Jun-2011 | Source : AG-IP News | Visits : 6686

AUSTIN, Texas - NetSpend Holdings, Inc. today announced in a press release that the company's wholly-owned subsidiary, NetSpend Corporation, has been granted patent #7,814,018 by the United States Patent and Trademark Office.

The '018 patent covers techniques for associating a valid charge number, such as a debit card number, and a prepaid account, so that consumers can make electronic payments without the need for a traditional credit or debit card. These techniques include aspects of batch activation processing, instant issue card programs and secure card applications in which the account number is not exposed to the merchant. The patent is NetSpend's first issued patent. The company also has four pending patent applications, including systems and methods related to providing account alerts over wireless networks, efficient bill payment and online applications.

"NetSpend is unique in being a prepaid debit card program manager that also owns and operates its own end-to-end processing platform," said Dan Henry, chief executive officer, NetSpend. "This is a competitive advantage that allows us to continuously innovate and find better ways to serve our extensive cardholder base, which reached 2.1 million at the end of last year. We are delighted to have been issued this patent and hope to be granted additional patents for our unique applications in the future."

A copy of the patent may be obtained from the United States Patent and Trademark Office website at http://www.uspto.gov

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