The acquisition will add more than 300 products to L’Oreal’s lineup.
The patent, entitled Universal Merchant Platform for Payment Authentication, was filed to protect the Company's technology related to the unique way in which it allows merchants, payments processors and other parties to enable the acceptance of multiple payment brands easing implementation.
Mentor, OH - August 2, 2011 - CardinalCommerce, the world-leading enabler of payment brands, today announced that the Australian Patent office has issued patent number 2003243523, pertaining to the facilitation of multiple authenticated payment brand acceptance through a simple, easy-to-use interface.
The patent, entitled Universal Merchant Platform for Payment Authentication, was filed to protect the Company's technology related to the unique way in which it allows merchants, payments processors and other parties to enable the acceptance of multiple payment brands easing implementation. This essentially extends the Company's US Universal Merchant Platforms patents 7,051,002and 7,693,783 to Australia, with other international patents pending. Gateways, processors, shopping cart and middleware providers, merchant aggregators, mobile shopping providers and various digital fulfillment enterprises would find the technology taught in these patents to be the best and most efficient way to enable payment brands, methods and wallets that use authentication. This technology is especially suited for internet, mobile and other remote transactions.
"Cardinal's intellectual property portfolio, and particularly its patent holdings related to the Company's core technology, continues to be strengthened by the recent patent grant by the Australian Patent Office.", says Michael A. Keresman, III, President and CEO of CardinalCommerce. "We are excited about the technology we are bringing to the market and look forward to expanding our product offerings and, most importantly, delivering the best service to satisfy our Customers."
"We imagine that there are probably several international providers that are delivering such a service and we encourage those suppliers to contact us so that an appropriate licensing or service agreement can be established. Cardinal's goal is to deliver world-class service and technology while providing the appropriate intellectual property for its Customers", said Chris Brown, the Company's Chief Financial Office.
Cardinal's IP portfolio includes eight United States, three European, one Australian and three South African patents:
South African Patents: