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Patent MarketPlace: Banking/Financial Services Patents for Sale

ATM for Buying and Selling Stock and Bonds (Benson): U.S. Patent No. 11,494,840 plus Continuation

ATMs have been around for over 50 years. Since their inception, however, their capabilities have expanded dramatically. From simply dispensing cash, ATMs now offer bill paying and funds transfer, even opening a new account. Some ATMs offer the option of purchasing tickets to sporting events. ATMs are becoming multi-product self-serve kiosks. People have become acclimated to using kiosks at airports, fast food establishments, banks, retail outlets, and malls – even doctor’s offices.

The investment industry realizes the importance of selling directly to the consumer and has been working to democratize finance through apps. However, there is not currently an easy way to invest using cash, and there is no way to buy or sell stocks or bonds using a kiosk. This patent takes the ATM concept to the next level by creating an ATM-like terminal that enables users to trade in stocks, bonds, commodities, fractional shares, and any other asset listed on the U.S. exchanges. It offers a new, yet familiar, way to invest. Imagine just walking up to a kiosk and buying or selling stocks, bonds, and other financial instruments. The unit would be linked to a brokerage house that would execute the transaction just as if the buy or sell order had been placed over the phone or on-line. Stock-trading kiosks could be installed anywhere – malls, office buildings, airports – so users can quickly, easily, and safely make trades. The unit also issues and redeems gift cards for stocks or bonds, and it could be a combination ATM and stock-trading kiosk so banks can provide a wider range of services to their customers. And there is the added benefit that a trade over a hard-wired kiosk would be many times safer and less likely to be hacked than an on-line transaction, and it would enable trades to be paid for with cash.

It’s been said that becoming an investor is the new American dream. Yet, millions of Americans are still left out. This patent could reach Americans who want to invest, but don’t know where to start, by making investing more accessible. It could bring the stock market to the people where they gather through an innovative, yet familiar, way to invest through ATMs and gift cards. U.S. Patent No. 11,494,840 and U.S. Patent Application No. 17,957,844 for a “System and method for buying and selling stocks, fractional shares, commodities, and other products listed on any stock exchange” would enable any ATM manufacturer to create an entirely new product line for an entirely new class of users, or for financial institutions to expand their services to a whole new group of customers.

Self-Sanitizing Card Reader (Chimile): U.S. Patent No. 12,151,043

Since the recent pandemic, we are all more concerned about preventing the transmission of germs than ever before. As a result, we are all careful about what we touch. Grocery stores – as just one example – provide sanitary wipes so shoppers can wipe clean the handles on grocery carts before they use them. But one of the items that virtually every one of us touches several times a day is the credit card reader keypad – when we use an ATM or make a debit card purchase, we have to enter our PIN. How many other people used that keypad before you did?

This patent addresses this issue. It creates a reservoir that contains an anti-bacterial solution and is attached to the keypad. A pair of nozzles sprays a mist of the anti-bacterial solution over the keypad. It sprays a gentle mist that kills any bacteria on the keypad, but does not interfere with the operation of the keypad. Most anti-bacterial solutions are alcohol-based, so they evaporate in seconds. The retailer can program the device to disinfect the keypad at user-defined intervals. Retailers that offer this disinfection of their credit card keypads will want to promote it to their customers to make them feel better about doing business with that store! The technology can also be used to disinfect keypads at fast food outlets, ATMs, gas pumps, door locks, security points, and dozens of other locations.

U.S. Patent No. 12,151,043 for a “Keypad sterilization assembly” will enable any manufacturer of point-of-sale equipment or keypads to offer an infinitely more customer-friendly, customer-safe product for the clientele of its customers.

Consumer Discount Credit Card (Rgx2Solutions): U.S. Patent No. 10,922,687

Most credit cards have a cash-back feature. The user receives points for purchases in certain categories, and those points accumulate until the card holder redeems them for merchandise or – for some cards – actual cash. The problem with this system is that the card holder receives no immediate gratification for using a specific card. He or she has to wait until the statements comes to see what has accumulated in terms of “cash back” points, and then the card holder has to translate those points into something of value. It is so complicated that millions of dollars in cash back points never get redeemed. How about a discount card that offers an immediate discount and, therefore, immediate gratification – and no paperwork – for the card holder?

This patent creates just such a card. It creates a credit card that – instead of collecting points for the card holder – immediately discounts the sale at the cash register. Rather than paying full price and having the card issuer take 1.5% or 2.0% or some other percent of the transaction, convert it into points, and hold those points for the card holder to redeem at some point in the future, this card discounts the sale by a given percent when the purchase is made, providing the card holder with an immediate discount and no points to redeem. Also, individual merchants can set up additional discounts for senior citizens or other classes of customer, or for loyal customers who buy from the merchant on a regular basis, or for seasonal specials, or for other types of purchases.

U.S. Patent No. 10,922,687 for a “Consumer discount payment card system and method” would enable any bank, credit card issuer, or merchant services provider to offer its customers a totally new concept in “cash back.”

Electronic Telephone Wallet (Poltorak Technologies): U.S. Patent No. 7,996,268

We’ve all been there. We are making a purchase online or via telephone. We provide our debit card or credit card number. Then the seller needs the security code from the card. OK. And the expiration date. OK. And the billing address for the card. Wait a minute! We thought ordering online or via telephone was supposed to be easy. Seems like we are providing a lot of information to people we do not know!

This patent replaces supplying all of that sensitive data with an electronic wallet that is incorporated into a cell phone or other smart device. This electronic wallet stores data on the owner’s credit and debit cards – the account numbers, security codes, expiration dates, and billing addresses. When the Electronic Telephone Wallet owner goes to make a purchase, the wallet communicates directly with the seller – either over the telephone or over the Internet – and it quickly, easily, safely, accurately, and securely provides the data needed to complete the transaction. The Electronic Telephone Wallet communicates with the seller via a telecommunication network, the Internet, RF signal, satellite communication, optical communication, public switchboard, telephone network, digital communication network, personal communications services (PCS), wireless communications, and/or any other communication network or system combination.

U.S. Patent No. 7,996,268 for an “Apparatus and method for an electronic telephone wallet” will enable any merchant services supplier or cell phone operator to provide the next level of convenience and security to its customers.

Smart Debit Card with Automatic Savings (Brennan): U.S. Patent No. 8,875,998

The only thing harder than losing weight is putting money aside in a savings account! That’s why 99% of the money put aside for retirement is in employer-managed retirement programs in which the funds are taken directly from the employee’s pay. We all agree we need to save on a regular basis, but we also need to lose weight, get more exercise and eat healthier. Thus the source of the adage “Easier said than done.”

This patent addresses this issue by creating a smart debit card that puts money aside in savings automatically. The card owner sets up how he or she wants the savings transaction to be triggered. It can be a per-transaction (every time the user makes a purchase, for example, a specific amount or percentage is transferred from the user’s checking account to a savings account) or a regularly scheduled (every other Friday, for example, a fixed dollar amount is transferred from checking to savings) program. And, of course, the debit card owner can start, stop, alter or re-start the program at any time. The card includes a chip that stores the balance in savings and enables the user to access those funds when needed (in an emergency, for example).

U.S. Patent No. 8,875,998 for a “Middle class American card” creates the opportunity for a bank or credit card issuer to create a value-added debit card that is not available elsewhere.

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