MIAMI BEACH, Fla.--(BUSINESS WIRE)--SafetyPay, a secure payment facilitator and clearinghouse benefiting online shoppers, online merchants and banks worldwide, announced that it has secured its first patent for intellectual property protection from the US Patent and Trademark Office. The patent (No. 3,696,981) relates to electronic payment and financial clearinghouse services allowing individual and corporation shoppers to make online purchases directly through their own online bank account. The patent wording more specifically reads:
Electronic bill payment services provided by means of the global information network; financial services in the nature of a payment system for businesses and consumers for the purchase of goods and services, namely, a financial clearing house between financial institutions and merchants; financial clearinghouse between corporations; merchant credit card processing services; money transfer services, electronic funds transfer services, and bill payment services; clearing and reconciling financial transactions for others, namely, payments clearinghouse allowing individual and corporation shoppers to make online purchases directly through their local bank.
“We submitted the application in 2006 and finally after all this time and effort, we have been awarded this patent which covers all countries around the world,” stated Manuel Montero, CEO. “It was definitely worth the wait because not only does it help to protect our intellectual property, but also it bolsters SafetyPay’s credibility and legitimacy in the marketplace,” he added.
SafetyPay is a global, safe and secure online payment solution that enables online banking customers to make internet purchases from merchants worldwide, and pay directly from their local bank account in their local currency. The company was developed in response to the growing need for a safe and secure online payment method. It is an innovative, patent-pending e-payment process that operates as a global clearinghouse. It adds value to all participating parties - banks, merchants and consumers. SafetyPay eliminates fraud and identity theft risk for consumers, provides banks with an additional revenue stream and cross promotional opportunities, and expands their merchants' customer base with an international reach of more than 250 million potential banking customers. Customers are never required to disclose any financial information. For more information, go to www.safetypay.com.