March 19, 2012 06:00 AM Eastern Daylight Time
BERKELEY, Calif.--()--Blaze Mobile, a leader in mobile payment and NFC solutions, has been awarded a notice of allowance for a new patent for mobile banking and payment transactions. This new patent covers any mobile banking transactions that comprise bill payment, peer-to-peer (P2P) funds transfer, funds transfer between bank accounts, between credit cards, and between bank accounts and credit cards. In all cases, the patent covers the funding of the banking transactions using Near Field Communications (NFC) technology. Thus, after the deciding to perform the transaction, the customer holds their NFC-enabled device near an NFC-enabled point of service (POS) terminal, computer, keyboard or monitor to complete the transaction. Therefore, consumers can choose to pay a bill, or to send or receive a money transfer, and complete the entire process conveniently in a store, home or office. The person, or persons (as in the case of P2P transfer), receives a digital or e-receipt that is stored in the NFC component of the mobile device.
Blaze Mobile is continuing to develop solutions that offer considerable value to consumers and merchants who are increasingly conducting mobile transactions. A report by Edgar Dunn & Company (EDC) predicts that mobile contactless payments will reach $320 billion globally by 2016. The United States’ Federal Reserve Board recently released a survey showing that 20% of Americans have used mobile banking in the past year. As Michelle Fisher, CEO/Founder of Blaze Mobile explains, “our innovations have far-reaching implications for consumers and industry. Instead of entering in a long credit card number, security code, and billing information into your computer, just tap your phone. Merchants can enable customers to pay bills, purchase or pickup goods or services like prescription medicine by tapping their phone near an NFC kiosk or NFC-enabled POS. Easier, faster and more secure mobile payment options benefit all parties, and this is what we do at Blaze.”
About Blaze Mobile
Blaze Mobile develops innovative mobile commerce, health care, banking and advertising solutions that enable secure, convenient, cost-effective transactions and promotions from the mobile device. Utilizing its patented NFC and mobile technology, the Blaze Mobile product suite includes a mobile wallet and NFC-enabling payment stickers.. Blaze Mobile applications are available through Apple iTunes, T-Mobile, Getjar, and NTelos. For more information, please visit www.blazemobile.com.