[August 17, 2011] ICAP and 3M Sign Marketing Agreement Tweet Aug 17, 2011 (Close-Up Media via COMTEX) -- ICAP Patent Brokerage, a division of ICAP, a global intellectual property brokerage and patent auction firm, and 3M Future have signed an exclusive marketing cooperation over a patent providing credit card security. According to ICAP and 3M, the invention enables a mobile smart phone to act as a secure credit card. In addition the technology allows for toll-taking on card payments from these phones. This patent portfolio will allow the owner to move into and sustainably play in the field of payments. These fraud proof credit cards should be implemented as a standard applet on smart phones. The frequent usage of the payment facility justifies this. The owner of a credit card can perform secure credit card transactions. These payments are fraud proof, even if the credit card number and other details are compromised and accessible to fraudsters, because only the owner of the credit card can switch the card on and off from his mobile smart phone. Any unauthorized use of such protected card is impossible, even with payments to remote merchants via the Internet or via telephone. "Mobile payment systems will be at the forefront of e-commerce in the future, and securing these systems from unauthorized access or hacking will be critical for their use and adoption by end consumers," said Dean Becker, CEO, ICAP Patent Brokerage. "This technology should be of interest to financial institutions, smart phone manufacturers, smart phone developers, e-commerce companies, or any other organizations looking to enter this fast growing space." ICAP Patent Brokerage is a division of ICAP and one of the world's largest intellectual property brokerage and patent auction firms. ((Comments on this story may be sent to [email protected])) [ Back To TMCnet.com's Homepage ]