Fast fact:
'The functionality and flexibility of the Upaid platform means that the service can expand in line with Visa CEMEA's strategic roadmap to enable a range of customer friendly solutions for remote payments.' - Hilary Mitchell, Visa, January 2004


Upaid Systems receives US patents

Upaid logo

(PARIS - 27 November 2001) - Upaid Systems, a leading provider of software technology for prepaid and real-time authorized payment, transfer and settlement processing solutions to mobile operators, service providers and financial institutions, announced that the United States Patent and Trademark Office has granted Upaid Systems US patent 6,320,947 for its technology invention of 'a method and system for providing enhanced communication services'.

'This patent validates Upaid as a true pioneer in the development of real-time payment processing and settlement solutions for both prepaid and real-time authorised mobile customers, which the communications billing industry increasingly recognises as essential for managing the financial risk of delivering advanced roaming and other value-added mobile services', commented David Dunn, Chairman of Upaid Systems.

Simon Joyce, Vice Chairman of Upaid Systems, added: 'The particular strength of the Upaid patent is its 1998 priority date, long before the necessity for real-time payment and settlement processing of m-Commerce services was recognised in the software billing community. We believe this early priority date, together with the 40 approved claims for real-time authorised communication payments and settlements, provide Upaid's customers unassailable protection for our product offerings in the marketplace'.

Upaid plans to use its patent to build cross-licensing partnerships with leading suppliers and integrators in the mobile communications industry, while providing the company's partners and customers the intellectual property insurance that today's market demands.

According to US patent 6,320,947 issued on 20 November 2001 Upaid has invented 'a communication method and system' which enables the simultaneous delivery of communications, commerce and account management services for prepaid and real-time authorised customers over multiple networks and by multiple service providers. The patent protects Upaidss real-time debiting and data processing of multiple services delivered through any communications device, whether over the Internet or over traditional telephony networks, as well as the ability to manage settlements dynamically according to the revenue splits and data share arrangements that characterise agreements among service providers offering value-added services to different types of customers.

As wireless service providers expand mobile service offerings to end-users, systems that can manage real-time approvals, settlements and credit limits are required to reduce the dramatically increased credit risk service providers face when offering 3rd party services to their customers. Real-time payment and settlement software is increasingly recognised across the telecommunications and Internet industries as a powerful and necessary tool for creating, managing and securing the complex business partnerships that will characterise next generation mobile services.

For further information, please contact :

Nick Giles or Sam Routley
MS&L;/ for Upaid
+44 (0)20 7878 3151 / 3137

 
> Back to latest headlines > Back to top