LOS ANGELES, Feb. 12, 2019 /PRNewswire/ -- Enabling Real Time Payment Card™ (RTPC) technology, MOVO®, a mobile payments platform and app, today announced the issuance of U.S. 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.
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.
"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."
About MovoCash, Inc.
Founded in 2014, MovoCash, Inc. is a California-based financial technology company that offers a next-gen payment card app and platform, MOVO®. MOVO's patented technology empowers customers to instantly and securely send and spend money from a mobile phone, even without a bank account. Unlike other payments apps, MOVO provides card accounts that are FDIC insured through the issuing bank and offer unique fraud protection features. For more information, please visit https://movo.cash.
The MOVO Digital Prepaid Visa Card is issued by Metropolitan Commercial Bank (Member FDIC) pursuant to a license from Visa U.S.A. Inc. "Metropolitan Commercial Bank" and "Metropolitan" are registered trademarks of Metropolitan Commercial Bank ©2014.