Enabling Real Time Payment Card (RTPC) technology, MOVO, a mobile payments platform and app, announced the issuance of US Patent No. 10,127,528 and the allowance of a Canadian counterpart expected to issue as Canadian Patent No. 2,934,603 in the short term, relating to a collaborative worldwide financial services ecosystem for provisioning RTPC. MOVO’s technology, known as HYPERBIN, is a cutting-edge system linking yesterday’s old world card issuing technology to the new world of revolutionary digital payments, promoting economic inclusion on a global scale.
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Introducing Real Time Payment Card technology to the traditional payments industry, MOVO’s HYPERBIN enables the issuance of payment cards. MOVO can be used for peer-to-peer transactions, such as business to business, business to consumer and consumer to consumer. Familiar to both businesses and consumers as the established 16-digit card number, MOVO can be used for e-commerce or in-store using Apple Pay, Google Pay, Samsung Pay or a physical card. Utilizing proprietary interoperability technology, users can load RTPC with fiat or cryptocurrency, onto the MOVO platform for purchases or bank to bank electronic funds transfers.
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“Though traditionally slow to adopt new technologies, the payments industry has steadily become more inclusive and accommodating to the shifting needs of businesses and consumers,” said Eric Solis, founder and CEO of MovoCash. “With real time payments now a mainstay, the next step is incorporating Real Time Payment Card technology into everyday life. MOVO’s HYPERBIN will turn what we once thought of as nothing more than a plastic card, with a magstripe, into digital cash which can be sent around the world and be redeemed instantly for goods and services at every installed point-of-sale on planet earth.”
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