PayCashMobile Announces Patent Award


Marlborough, MA — June 12, 2006 — PayCashMobile, Inc., a leading provider of secure electronic payment solutions, announced today that the US Patent Office awarded PayCashMobile the patent for the "Method used for making a blind RSA signature and apparatus therefor".

 

This technology, in development over the last ten years, is used to create a virtual coin to transfer funds from different accounts over the Internet secured by its proprietary 1024-bit encryption.

 

Whether it is shopping on the Internet, using any of PayCash’s portfolio of financial services or on a PayCash-enabled kiosk, PayCash customers are using this encryption secured payment method to quickly transfer payments for goods and services to merchants and account holders worldwide.

 

Further, the "Method for making a blind digital RSA-signature and apparatus therefor" relates to the cryptographic field, particularly to making an RSA-signature, and can be used in electronic systems in a global scope. This method includes steps of masking the initial data by means of the RSA-encryption, the corresponding unmasking of the signed masked data and the untraceability when masking the digital RSA-signature with relatively small resources in electronic systems of mass service.

 

Also maintained and protected by patent 7,058,080 is the "Method for effecting payments and apparatus therefor", which relates to commercial systems and can be used for organizing payment systems on the basis of computer networks in a financial environment. This method will ensure the protection of financial interests of each participant against other participants in the system as well as maintaining privacy.

 

PayCashMobile President and CEO Joe Barboza said, "Over the past few years, PayCashMobile has been awarded numerous patents involving its PayCash technology and this latest patent reflects our demonstrated expertise in secure global electronic payments using cryptology".