FIDELITY NATIONAL INFORMATION SERVICES, INC. 
By WELLESLEY, MA--(Marketwired - Jan 23, 2014) - Paydiant, provider of a white-label mobile payments, offer redemption, loyalty and cardless cash access platform for banks and retailers, today announced the grant of a new patent from the U.S Patent and Trademark Office (USPTO). U.S. Patent No. 8,632,000, granted on January 21, 2014, describes approaches for using a mobile device to conduct transactions at automated teller machines (ATMs). The solution enables consumers to use their smartphones, instead of their debit or credit cards, to withdraw cash from ATMs, enhancing the consumer mobile banking experience while also supporting financial institution loyalty. And because it is software-only, it can be deployed without installing additional hardware on ATMs.
Unlike more complex and less secure solutions that require a consumer to receive a one-time use code on their smartphone and then key it into an ATM along with other user credentials, the Paydiant solution enables the user to get cash simply by scanning a QR code displayed on the ATM with their smartphone. The Paydiant solution also increases security by eliminating the risks associated with card skimming and PIN theft at the ATM.
As described in the patent, an ATM code or token is obtained by a mobile device and used to associate an end user and their payment accounts to a transaction at an ATM. Users can pre-stage cash withdrawals on their smartphone and then identify themselves at the ATM by scanning the transaction specific QR code that signals the ATM to dispense cash via an encrypted connection to the cloud.
This is the second patent awarded to Paydiant involving mobile wallets and payments. The first, granted in February 2013, describes a mobile contactless payment and mobile wallet solution for conducting payments in store, online and for pay-at-table transactions. It is currently deployed in partnership with prominent card-issuing banks, retailers, restaurants, merchant processors, debit/ATM networks and POS providers. Unlike other mobile wallet solutions that require consumers to buy new phones or retailers to invest in costly new point-of-sale (POS) infrastructure, Paydiant's white label platform works with existing smartphones, POS systems, and payment terminals, including entry-level countertop devices. In addition, the solution enables banks, credit unions and retailers to avoid sharing sensitive customer information with intermediaries, and enables them to leverage new revenue streams from highly targeted mobile ads and offers. The technology also works with numerous ATM to phone interface technologies, including QR codes and Bluetooth Low Energy (BLE).
The newly patented cardless cash access solution has already been deployed by Wintrust Financial Corporation and City National Bank in partnership with FIS (
"As mobile technology proliferates, banks are looking for new ways to leverage that touchpoint with their customers -- and it goes way beyond making payments," commented Paydiant co-founder, Kevin Laracey. "This patent describes a more convenient and secure way for consumers to conduct a very common interaction with their banks. It adds value for the consumer, extends the bank's relationship with their customers and encourages customer loyalty. That's the real opportunity in mobile."
About Paydiant
Paydiant is the provider of a cloud-based, white label mobile payment, cardless ATM access, offer redemption and loyalty platform that enables merchants, banks, and payment processors to deploy and manage their own mobile payment and ATM access solutions under their own brand and on their own terms. Based on a patented, cloud-based transaction processing platform, the Paydiant solution enables the key stakeholders in the payments value chain -- retailers, banks and payment processors -- to control the next generation of payment solutions. Visit www.paydiant.com for more information about the Paydiant solution and follow us on Twitter @Paydiant.
