‘Decoupled debit’ technology
National Payment Card Association (NPCA), a provider of merchant branded, PIN-based debit cards, has been issued with a patent in the area of ‘decoupled debit’ technology (view press release). ‘Decoupled debit’ payment methods refer to situations in which a US checking account holder from any bank or credit union is able to complete an electronic payment without the use of a bank or credit union- issued cheque or debit card.
NPCA claims its ‘decoupled debit’ technology interests those merchants who want low methods of payment settlement fees in the marketplace, including mobile payments. “With the emergence of mobile payments as an option, merchants are seeking methods of payment that represent the lowest transaction cost to them while at the same time allowing consumers to use the convenience of a mobile devices,” said Joe Randazza, CEO and President of NPCA. “This patent is a logical extension to our current patent portfolio.”
The patent is United States Patent Number 8,205,791, titled “Payment System and Methods” and contains 28 claims. These include various independent claims for a consumer to fund a mobile wallet, via an ACH payment method, for a US checking account holder with a financial institution to provide a retail purchase. Examples of payment tokens useable by consumers include smartphones, cellular devices, and wireless devices.
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