XIUS, a leader in delivering innovative, revenue-generating solutions to mobile operators, banks and financial institutions worldwide, announced today the award of its patent in Near Field Communication (NFC) technology. The invention relates to a smart integration of dual architecture contactless SIM into mobile devices and describes the method of efficiently performing various financial transactions. The patent filed in February 2010, was awarded by the US Patent and Trademark Office recently.
NFC as a technology is extending beyond applications initially envisioned by the market. End users have started to believe that using their mobile phone for payments is safe and also addresses privacy concerns. Mobile wallets are now making a significant impact by creating new market opportunities. XIUS mobile payments solution is powered by futuristic technologies including NFC, and aims to deliver customers seamless services and enriched experiences in real-time fashion.
Speaking on the occasion, said G.V. Kumar, CEO and Managing Director, “The award of yet another patent is testimony to XIUS’ thought leadership and emphasis on innovation. XIUS takes immense pride to have developed years ago, a SIM based solution for NFC enabled payments. Our endeavoring efforts have borne fruit and the award of this patent only reiterates our strong belief and commitment to continue innovating and contributing to the industry”.
XIUS implements NFC as one of the technologies in offering banks and financial institutions its unique technology enabled banking services. The solution leverages existing mobile ecosystem and extends banking services to the unbanked and under-banked segments of the population that banks are otherwise challenged to penetrate and cater to.
NFC technology allows retailers and brands to engage with increasingly connected mobile consumers. Retailers and brands can use NFC during the customer journey to improve in-store experiences, enable touch & go payments, generate more sales, and enhance customer loyalty and trust. As part of its mobile commerce offerings, XIUS NFC-based payment solution improves customer experience and delivers control of purchase flow to the merchant.
Whether deployed to facilitate banking transactions or in a retail outlet, XIUS NFC mobile enabled solution has diverse uses among those that are now being widely publicized and adopted by technology companies / retail chains in evolved markets such as the US and Europe in the recent times.
