22 June, 2011
DeviceFidelity has been awarded a patent for its mobile wallet technology, the company announced. U.S. Patent No. 7,942,337 describes the implementation of NFC technology for enabling mobile devices to conduct payments, access, transit and other contactless applications using credentials issued by multiple different enterprises through point of sale terminals.
DeviceFidelity’s now-patented Mobile Wallet Architecture features at its core a secure element capable of running multiple applications, thus enabling users to choose from multiple accounts and institutions to make contactless payments on their preferred mobile device.
The patent also describes a security framework for implementing improved protection over traditional payment methods, and additional authentication mechanisms to protect NFC transactions, says DeviceFidelity.
The mobile wallet patent builds on another patent granted to the company in May for a plug and play external NFC accessory, such as a protective case, sleeve or a dongle, that gives mobile devices NFC capabilities.
In Dec 2010, DeviceFidelity’s In2Pay microSD became the world’s first NFC solution certified by Visa for commercial deployment, according to the company. Today, DeviceFidelity says it is active in more than 100 customer projects worldwide either directly or through partnerships with smart card manufacturers, terminal makers, TSM platform providers, handset manufacturers and mobile banking solution providers.