Cortex MCP Secures Tokenization Patent
Aug. 20, 2015
This week, Cambridge, Mass.-based Cortex MCP was issued a U.S. patent around tokenizing mobile commerce transactions the company’s CEO said will be “groundbreaking” for mobile payments and authentication. The patent, titled “Systems, Methods and Apparatuses for Secure Digital Transactions,” covers the creation of a multifactor authentication-centric token that can be used to securely provision, store, authenticate and present financial transaction data with no secure element or cloud connection required. Cortex will bring the system to market under the commercial name RCD Tokenization.
“Our RCD Tokenization solution provides strong value in the mobile commerce ecosystem, as well as addressing key ID and authentication issues in the accelerating IoT world of connected devices,” Shaunt M. Sarkissian, CEO Cortex MCP told CardNotPresent.com. “Tokenization has a tremendous role to play in the future integrity of our connected world, and we look forward to continuing to contribute to unlock the markets potential.”