CenPOS Awarded Another Patent from US Patent Office for Alternative Payments

By Hector Miranda on August 05, 2014


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CenPOS announced today that the US Patent Office has granted the company another patent (Patent Number 8799089). The new patent covers the handling and processing of traditional payments as well as alternative payments like cryptocurrency using a mobile device as a means of transaction origination and authentication. This is a major breakthrough in bridging the physical world and the virtual world. The business communities around the globe including major retailers have recently embraced both mobility and the alternative payment movement, especially cryptocurrency. This patent secures CenPOS’s position as a leading enabler in the acceptance, routing and processing of these new emerging payment types. More importantly, enables CenPOS to help its customers expand their payment acceptance to new heights, which in turn increases merchant sales, reduces payment acceptance costs, and reduces acceptance risk.

“We have been working on this patent for several years; from the beginning we were firm believers that these types of so-called alternative payments would eventually become mainstream payments,” said Jorge Fernandez, Co-Founder and Chairman of CenPOS. “CenPOS’s position has always been that merchants and consumers alike should not be limited to the traditional payment types currently being offered by the traditional payment networks; businesses and their customers should be able to freely choose what payment types they exchange for goods and services without boundaries and network limitations. All this needs to happen in real time and be frictionless,” added Fernandez.

About CenPOS

CenPOS is a merchant-centric, end-to-end payments engine that drives enterprise-class solutions for businesses, saving them time and money, while improving their customer engagement. CenPOS’ secure, cloud-based solution optimizes acceptance for all payment types across multiple channels without disrupting the merchant’s banking relationships. For additional information please call 877.630.7960.

Categories: Payment Systems, Press Releases, Mobile Payments




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