Advertisement

Apple Awarded Mobile Payments Patent

March 8, 2012

The U.S. Patent and Trademark Office this week approved a patent application by Apple concerning the rules governing financial transactions by a subsidiary mobile payment account. That is, the company has patented the process by which a parent with a primary account might have control over the way a child, holding a secondary account, uses their mobile device to make payments. According to the patent's description, "the financial transaction rules may be based upon transaction amounts, aggregate spending amounts over a period, merchant categories, specific merchants, geographic locations, or the like.”

The patent drawings include an image of an iPhone with an app screen showing an “E-Wallet” app—though most observers have been calling it “iWallet.” Mobile payments industry experts have been speculating for some time that Apple would throw its hat in the mobile-wallet race with Google and carrier JV Isis, but the popular consumer products company has not made any announcements.

“Apple's patent reviews credit card transaction rules and shows us that the credit card companies will be sending statements directly to your iTunes account,” says Apple-focused IP blog Patently Apple. “The iWallet project just became a little more real [Tuesday], and for many, it can't come soon enough.”


  • Alibaba Threatening Main Street? - Dec. 18, 2014
    Alibaba Threatening Main Street?

    The Alliance for Main Street Fairness (StandWithMainStreet.com) has produced a television ad warning that, after its enormous IPO, Chinese e-commerce company Alibaba.com will take advantage of current tax law to "decimate local retailers."


Advertisement


  • Report: CNP Merchants Beware of Fraud-Filled November - Nov. 3, 2014
    Report: CNP Merchants Beware of Fraud-Filled NovemberHeading into the holiday shopping season, Feedzai, an antifraud technology provider that uses machine learning to analyze payment transactions in real time, recently released some interesting statistics pertaining to card-not-present fraud culled from its merchant clients over the past year... November as the biggest month for CNP fraud.
  • Yoyo Chooses BlueSnap Gateway - Nov. 3, 2014

    Yoyo Chooses BlueSnap GatewayWaltham Mass.-based BlueSnap today revealed that British mobile marketing and payments platform provider Yoyo has selected its gateway for cross-border online and mobile transactions.

Advertisement

 

 

Sign Up Today Free

Receive the twice weekly CNP Report and monthly feature articles providing in-depth examinations of global CNP issues.

Please take a moment and register.
* First Name:

* Last Name:

* Password:

* Confirm Pwd:

* Email:

* Category:

Company:

 
Captcha
Answer:

 

 

CNP Archive

Researching companies or people in the CNP industry? Search our past coverage for targeted news and information.

Search here