CARDFREE Assigned Patent for Reservation and Payment System for Restaurants and Other Merchants

SAN FRANCISCO--()--CARDFREE, the leading mobile commerce provider to large merchants, announced today that it has been assigned a patent (U.S. Patent No. 8,622,292) granted to investor Jeffrey Katz. The patent includes an integrated reservation, payment pre-authorization and management system that can be tied to a merchant’s point of sale (POS).

“I’m pleased to add this patent to CARDFREE’s patent portfolio,” commented Jeffrey Katz, founder of Mercury Payments and sole investor in CARDFREE’s $10 million Series A financing. “CARDFREE‘s platform integrates mobile and online commerce capabilities through to the POS so this patent is a natural complement to their offerings. Reservation management coupled with pre-authorization for payment can expedite overall transaction time at the merchant location and allow for secure, cardless transactions. Many merchant types can benefit from the convenience and additional services included in this system.”

CARDFREE provides integrated commerce solutions that enable merchants to engage consumers based on individual behaviors and preferences. The company’s award-winning platform provides robust CRM tools including informed offers, payments and loyalty. Current customers include three top 50 quick serve restaurants (QSRs) that collectively reach over 59 million consumers each week.

“Our first year was focused on partnering with large QSRs who embraced the opportunities that our integrated mobile solutions offered, which we achieved. With this patent, we are now primed to take on fast casual and other restaurant segments as well as any merchants that use reservations,” said Jon Squire, founder and chief executive officer of CARDFREE. “Reservations paired with our Stored Value Solution provide our partners with a unique combination of speed, accuracy, data and tender preference that fill a vacuum in the space.”

CARDFREE has also filed a patent for its Next Generation Stored Value Solution, which is built specifically for mobile and digital consumption and integrates offers, loyalty and various currencies seamlessly for merchant transaction processing.

About CARDFREE

From the team that deployed the two largest mobile commerce initiatives in the U.S., CARDFREE offers merchants a one-stop solution to mobilize and enhance the customer experience for maximum ROI. Sharing a track record of bringing innovative solutions to market, our team has a unique 360-degree perspective coming from large merchants, mobile, financial services and payments.

CARDFREE offers complete, integrated solutions for merchants from mobile and online through POS. Our award-winning platform provides end-to end capabilities to engage customers via merchant-branded interfaces such as mGifts, messaging, offers, loyalty, payments, order ahead and social media integration. CARDFREE is headquartered in San Francisco and has been recognized as a "Fierce 15" company by Fierce Wireless. Customers include Taco Bell, Sonic Drive-In and Checkers/Rally’s.

Contacts

For CARDFREE
Heather Sugg, 813-374-6362

Release Summary

CARDFREE has been assigned a patent which includes an integrated reservation, payment pre-authorization and management system that can be tied to a merchant’s point of sale (POS).

Contacts

For CARDFREE
Heather Sugg, 813-374-6362