OVE Touch & Go® announces patent granted by USPTO.
“A patent as unique as fingerprints”
SAN FRANCISCO, CA
OVE Touch & Go®, the world’s first fingerprint payment eco-system created to integrate with any POS platform available in the US, announced today that the United States Patent and Trademark Office (USPTO) has issued a utility patent related to systems and methods for allowing a customer to purchase goods or services by using his or her fingerprints both to identify the customer and to authenticate and approve debiting of a customer's payment account.
ABOUT THE PATENTED FINGERPRINT CONCEPT GRANTED TO OVE, INC.
The USPTO has issued U.S. Patent No. 11,514,454 entitled, “PAYMENT SYSTEM USING CUSTOMER’S FINGERPRINTS”, a system for processing transactions between a shopper and a merchant, the shopper having a mobile communication device capable of installing and operating software instructions (application), and the merchant having a point of sale terminal for receiving payment for goods or services, the system comprising in combination with OVE® APIs and an OVE Touch & Go® Sensor, a fingerprint scanning unit including a sensor adapted to receive a shopper's finger and to generate a plurality of electrical signals representative of a shopper's fingerprint, the fingerprint scanning unit further including a data processing unit coupled to the sensor to generate digital data corresponding to the shopper's fingerprint, and a wireless communication module coupled to the data processing unit for receiving the digital data corresponding to the shopper's fingerprint, and wherein:
the wireless communication module of the fingerprint scanning unit is adapted to communicate with the shopper's mobile communication device to securely exchange data between the fingerprint scanning unit and the shopper's mobile communication device.
the wireless communication module of the fingerprint scanning unit is adapted to communicate with the merchant's point of sale terminal to securely exchange data between the fingerprint scanning unit and the merchant's point of sale terminal and thereby indicate the identity of the shopper.
“We believe fingerprints are the future of authentication and security as they are biological tools that can truly provide a private, secure and convenient experience to the end users, customers and merchants” said Caio Buchalla, CEO and co-founder of OVE Touch & Go®. “Besides the concept, our patent protects what matters most, the fingerprint sensor. Without the hardware component that recognizes fingerprints the concept cannot work - making it complicated for any competitor to replicate our model’, said Caio.
The utility patent has also been filed in 35 other countries (Canada, Brazil, Mexico, United Kingdom, European Union, India, Japan, United Arab Emirates and Australia), which are currently being processed.
ABOUT OVE TOUCH & GO®
OVE Touch & Go® is a one-touch payment and fraud protection platform that allows customers to seamlessly pay with fingerprints, and businesses to securely accept fingerprint payments. Customers can download the OVE Touch & Go® app, create an account and link each of their fingerprints to personal bank accounts, credit cards, and crypto wallets, making their fingers the only tools they’ll need to make a purchase at a point-of-sale. Merchants can link OVE Touch & Go® Sensors with their POS platforms to enable their businesses to accept fingerprint payments.
OVE not only free customers from liable payment tools (e.g. payment cards, smartphones and watches) by offering a seamless way to pay, it also decreases payment fraud across all markets, helping businesses to reduce liability, minimize costs like refunds and chargeback fees, and offer a fast and frictionless checkout experience. Founded in 2019 and headquartered in San Francisco, OVE Touch & Go® will be available in December 2022.
For more information visit www.ovetouchngo.com, or follow the company on LinkedIn or Instagram.