News from the Wire

Cloud Wallet patent portfolio up for sale

Monday, November 24, 2014 — 12:05:14 (EST)

New York, Nov. 24, 2014 -- ICAP Patent Brokerage announces for sale a premier patent portfolio comprehensively protecting web/cloud services for mobile, web, and POS electronic financial transactions from Nexus Payments, LLC, and separately, the sale of the Cloud Wallet® registered trademark. This important IP package is available as part of the Financial Auction Series, with a bidding deadline of December 4th, 2014.

“The evolution of the electronic payments industry in the U.S. is proceeding at a rapid pace. With priority dates from early 2005, this exciting electronic transactions portfolio offers a secure, cloud-based system and method for accessing financial and rewards accounts for mobile, web, and POS transactions. These assets will be of strong interest to those companies involved in financial transactions and payment processing, as well as cloud SAS providers, and computer software companies,” says Dean Becker, CEO of ICAP Patent Brokerage.

Key Characteristics & Benefits

This unique IP portfolio comprehensively protects methods and systems for the Cloud Wallet®, wherein consumers can store and access all of their payment and rewards accounts through a central server conveniently accessible via using just one PIN (on a tokenless basis) or via using any single token (e.g., magnetic strip card, mobile phone, NFC or RFID fob, smart card, etc.), with one Nexus patent protecting single-click Cloud Wallet® transactions for consumers using Web merchants.

The Cloud Wallet® PIN or token is uniquely secure because it is “thin-client,” storing no fraud-vulnerable “live” payment or financial account data. The Cloud Wallet® also includes a rules engine which optionally identifies customized account preferences to automatically calculate and offer each payment account ranked by the lowest processing cost and highest rewards, optimizing retailer profitability and consumer benefits. The Nexus Cloud Wallet® provides the clear convenience of having just one token or PIN to access all financial and rewards accounts via a remote server, and the Nexus Cloud Wallet® and rules engine together deliver lower financial account fraud and reduced transaction costs, while increasing payment convenience and profitability for consumers, merchants, issuing banks, and payment processors. The Nexus Cloud Wallet® “thin-client” solution also provides an excellent high-security solution to the problem of vulnerable POS payments as seen with the recent US retailer data breaches.

Offered separately is the Cloud Wallet® registered trademark.

See this technical description of the cloud wallet system IP sales offering: icappatentbrokerage.com/sites/icappatentbrokerage.com/files/Nexus%20Payments%2C%20LLC_Portfolio%20Description_8.pdf .

View the Nexus overview presentation: icappatentbrokerage.com/sites/icappatentbrokerage.com/files/Nexus%20Payments%20Confidential%20Brief%20-%20Q3%2C%202014-Overview-ICAP.pdf .

View the Nexus executive summary: icappatentbrokerage.com/sites/icappatentbrokerage.com/files/NexusExecSumm-Q4-2014-Confidential-Brief-Overview-ICAP.pdf .

To learn more about the intellectual property available for sale in these portfolios or to place a bid: Contact Paul Greco of ICAP Patent Brokerage at (212) 815-6692 or via email at Paul(at)icapip(dot)com.

If you have a patent for sale, visit our website to make a patent submission for an upcoming sealed bid event.

About ICAP Patent Brokerage ICAP Patent Brokerage is the world's largest intellectual property brokerage and patent auction firm, leveraging the talents of experienced patent brokers to match buyers and sellers for the sale of patents and other intellectual property assets. With multiple transaction platforms and unparalleled industry knowledge, including experience with trademarks, brands, intellectual property licensing, and UCC sales,

ICAP Patent Brokerage is the global leader in the transaction of intellectual property.

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Source: Company press release. end of article