U.S. Patent and Trademark Office publishes Parcxmart Payment Solution patent application

The significance of the publishing of Parcxmart's patent application is that our patent-pending payment solution has entered a provisional rights period, said John Regan, President and CEO of Parcxmart Technologies. This provides us with protection against potential infringers from this point forward.

Parcxmart's patent application is for a business method patent for its parking and local merchant smart card payment system. Users of the Parcxmart Card can load and reload money onto the card. The card keeps track of the available balance and is used to purchase goods/services at any merchant point-of-sale location and any participating parking meter or garage. The system provides a cryptographically-secure and accurate way of collecting, processing and receiving revenues from on-street and off-street parking locations as well as merchants. The system processes the transactions in a generally open manner to move funds to the appropriate accounts. All funds management and movement associated with the value of issued cards is managed by the Federal ACH system. The Parcxmart payment system can support hundreds of cities and thousands of daily transactions from each city. Parcxmart Technologies payment solution is fully functional in New Haven, CT, Bridgeport, CT and Truckee, CA.