Vitek IP Announces the Availability of Mobile Payment Patent Portfolio

PORTLAND, Ore. - June 5, 2019 - PRLog -- Vitek IP, LLC announced that they are the exclusive representative to sell the patent portfolio of mobile payment provider Fonwallet, a pioneer in the mobile wallet space.

The Mobile Payment patent portfolio contains 5 issued U.S. patents. The patent owner has spent over $2 million in R&D and patent development, contributing to the essential value of the patented technology. The patents are applicable to numerous digital and mobile payment services, including credit cards, bank transactions, mobile payment apps, online retailing, digital wallets, and digital coupons.

The patent portfolio is directed toward features being implemented by major market players providing mobile payment, online payment, and mobile banking solutions. One key patent is directed to a token-based rules system for processing payments providing controls for merchants, users, and banks to enhance security through fraud detection. Essential features are applicable to a variety of purchase alerts utilized by credit card, banking, and mobile payment companies, such as alerts based on geographic region, transaction amount, or type of purchase. A second key patent applies digital vouchers, coupons, or gift cards during a purchase. The essential nature of the patents, the early priority date, and the use in major markets, provide the opportunity to acquire a pivotal patent portfolio from an early mobile wallet innovator.

The Mobile Payment patent portfolio is being offered to a limited number of potential buyers. Offers for the patents will be reviewed as they are received, and the patent owner intends to finalize a transaction by August 2019. To receive an overview of the portfolio or detailed market materials, contact us via email at info@vitek-ip.com.

About Vitek IP, LLC. Founded by a team with over four decades of experience in IP and tech, Vitek's patent consultancy, brokerage group, and research organization provides clients exceptional guidance navigating the patent landscape. Vitek team members have developed and managed hundreds of patent transaction engagements for the world's largest telecommunications, software, and computer companies. For more information, visit www.vitek-ip.com.