Sequent Software Gets Mobile Payments Patent
Sequent Software, which provides digital issuance and open wallet platform-as-a-service, has obtained a key patent that will simplify mobile payments and allow fast and seamless transactions at merchants.
The “One Tap” mobile payments feature allows mobile wallets to transmit multiple cards simultaneously to a merchant’s point-of-sale (POS) system. This functionality is available to all mobile applications that use the company’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, CEO of Sequent. “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 US Patent No. 8,811,895 covers the transmission of multiple digital accounts from a mobile phone to a merchant’s POS system through the Near Field Communication (NFC) technology. It covers two or more digital accounts being transmitted simultaneously, including debit, credit, prepaid, offers, coupons, loyalty and vouchers.
“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, CTO of Sequent.
By leveraging Sequent’s platform, merchants can add the “One Tap” functionality to their apps and offer the best payment experience to consumers, Brudnicki added.