August 24, 2016
Cortex MCP Secures ID Provisioning Patent
Nov. 5, 2015
This week, Cambridge, Mass.-based mobile payment technology provider Cortex MCP was issued a U.S. patent around storing verifiable identification or credentials on a mobile device. This is Cortex’s second patent granted within the last three months and could have far-reaching implications for the mobile payment space. The patent covers the process used to provision any credential including official identification cards, enabling the creation of a digital representation of that credential that can be scanned and verified by a third party. In other words, a smartphone could store a government-issued driver’s license that could be validated on the device as such by any third-party with a proper scan.
“It’s one thing to say, ‘we’re going to put a picture of your driver’s license on your phone,’ Shaunt Sarkissian, CEO of Cortex MCP, told CardNotPresent.com. “Now we have a set of standards where people can use the same types of mechanisms to provision that data down, but also be able to verify it. Driver’s licenses all have codes that can be scanned by a third party and not only see it’s a valid credential, but also return certain information like how many times a person has been pulled over. We have enhanced the capabilities of digital credentials.”