[August 21, 2011] ICAP and 3M Future Join Forces to Launch New Secure Credit Card [Manufacturing Close - Up] Tweet (Manufacturing Close - Up Via Acquire Media NewsEdge) ICAP Patent Brokerage, a division of ICAP plc, an intellectual property brokerage and patent auction firm, announced that it and 3M Future have signed an exclusive marketing cooperation over a patent providing credit card security. According to a release, 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 company noted that 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. The PSOCA security mechanism as disclosed by the assets is understandable for the consumer and can be marketed to consumers. "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," says 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 plc and an intellectual property brokerage and patent auction firm. ICAP is an interdealer broker and provider of post trade services. The Group matches buyers and sellers in the wholesale markets in interest rates, credit, commodities, foreign exchange, emerging markets, equities and equity derivatives through voice and electronic networks. More Information: icap.com ((Comments on this story may be sent to [email protected])) (c) 2011 ProQuest Information and Learning Company; All Rights Reserved. [ Back To TMCnet.com's Homepage ]