Rollout of Smart Cards and Mobile Rewards Opens Market for US Patent 5,806,045

LAS VEGAS, Aug. 23, 2011 /PRNewswire/ --

A dynamic loyalty environment with major players

On August 12, 2011, Visa announced plans to take an aggressive step toward curbing credit card fraud in the United States by accelerating the transition to embedded Europay, MasterCard, and Visa (EMV) chips in debit and credit cards.  EMV is the global standard for micro-processing chips that are embedded in credit and debit cards to provide additional security and the ability to include other applications such as Loyalty.

AT&T Inc. and Verizon Wireless, the largest U.S. mobile carriers, are planning a venture to displace credit and debit cards with smartphones, posing a new threat to Visa Inc. and MasterCard Inc.  Apple and Microsoft, two traditional rivals, partnered with other high tech companies to outbid Google's $4 Billion bid with a $4.5 Billion bid for Nortel patents.  Google is spending $12.5 Billion to buy Motorola Mobility, but the big prize isn't Motorola's lineup of cellphones, computer tablets, and cable set-top boxes, it's Motorola's more than 17,000 patents, a crucial weapon in an intellectual arms race with Apple, Microsoft and Oracle to gain more control over the increasingly lucrative market for smartphones, tablets, and other mobile devices.

Google sees its future in mobile payments. It is also looking at other ways to reduce the anti-competitive threats against Android by strengthening its own patent portfolio. On August 18, 2011 Citigroup Inc. announced it has launched a mobile-rewards application with Best Buy Co. Inc. that enables its cardholders to redeem ThankYou rewards. The issuer's free app runs on Apple Inc. iPhone or iPod devices and on smartphones that use Google Inc.'s Android operating system. According to IE Market Research, "NFC has the potential to replace cash and other payment methods, and could account for a third of the $1.1 Trillion global mobile payments market by 2014."  

Opportunity for Schimatic Cash Transactions Network.com (SCTN) patented Loyalty Program

Into this global market for EMV compliant smart cards, mobile rewards and patent protection SCTN brings an EMV standard for loyalty on a smart (micro-processing) chip including Smart Cards, Smart Phones, and Near Field Communications (NFC) devices.  SCTN's US patent 5,806,045 is described as:  "A method and system for allocating and redeeming incentive credits on an integrated microcircuit chip platform." The Company has registered patents in United States, Canada, Mexico, Japan, and Australia.  Collectively these patents could enable our company to play the role of game changer in the Mobile Payment and NFC Market space, creating the potential for us to realize a substantial increase in shareholder value.  

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Call (702) 778-4784 or (702) 361-3624, or email [email protected] for more information.

About Schimatic Inc. (Schimatic) based in Las Vegas, Nevada trades under the symbol SCTN. Schimatic is doing business as Smart Chip Technologies (SCTN) LLC. SCTN is a patent licensing company engaged in the research, development, and integration of proprietary processes incorporating smart software technologies for the electronic payment industry. Our mission is "Licensing loyalty for rewarding solutions." www.sctn.com

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SOURCE SCTN