Veritec Awarded Patents From China and South Africa
25 Ottobre 2010 - 1:00PM
Marketwired
Veritec, Inc. (PINKSHEETS: VRTC) today announced that it has been
awarded two patents from the Peoples Republic of China and the
Republic of South Africa. These two patents advance the fields of
secure and customer friendly financial transactions using financial
cards and mobile phone methods.
Peoples Republic of China Patent No.:
ZL200580041100.8 - SECURE CARDS AND METHODS Republic of South Africa Patent No.: 2008/08794 -
METHODS AND SYSTEMS FOR SECURE TRANSACTIONS WITH ELECTRONIC
DEVICES
Van Thuy Tran, Executive Chair of Veritec, Inc., states,
"Veritec is building a very strong portfolio of Intellectual
Property in the financial transaction market. As the market
transitions form using plastic cards to mobile electronic devices
to facilitate personal financial transactions, Veritec will be a
leader in technology used for the legacy card methods and the newer
mobile phone methods. I am very excited about the future where our
products will make financial transactions more secure, helping to
prevent fraud while at the same time being quick and easy to use.
Veritec continues to aggressively build technology that will be the
corner stone of secure identification and financial transactions
while reducing complexity and costs."
ABOUT VERITEC, INC. Founded in 1982, Veritec offers a patented
line of encoding and decoding software products that utilize the
2-D Matrix Symbology, which allows users to create, apply, store,
or transmit unique identifiers directly on the products or to an
electronic device in the form of a coded matrix symbol, which
enables automated manufacturing control, as well as identification,
tracking, and collection of data via cameras, mobile phones,
readers and scanners. The collected data can then be stored in the
2-D barcode available for contemporaneous verification or other
user-definable purposes. Veritec's 2-D Matrix Symbologies, the
VeriCode® and VSCodes®, with its incredible robustness, security
features, and large data storage capacity, have proven to be the
technology of choice for products tracking, identification, and
verification in many automated industries. Veritec technologies are
also applicable in the Secure Bio-ID Cards to provide positive
identification via biometric markers such as fingerprints, or
pictures. Veritec's licensed software products have recently been
introduced to the banking industries via Stored-Value Cards or
credit cards. In the mobile phone industry, Veritec has patented
the "PhoneCodes©" products that allow an individual using the
Internet or mobile phones to purchase, send, or receive a gift
certificate, ticket, coupon, receipt or transfer money. Further
details about Veritec's technologies and its multiple applications
can be found on Veritec, Inc.'s website at www.veritecinc.com.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995: This news release contains forward-looking
statements within the meaning of the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995. These
statements are based upon our current expectations and speak only
as of the date hereof. Our actual results may differ materially and
adversely from those expressed in any forward-looking statements as
a result of various factors and uncertainties affecting technology
companies, our ability to successfully develop products, rapid
technological change in our markets, changes in demand for our
future products, legislative, regulatory and competitive
developments and general economic conditions. Our SEC filings
discuss some of the important risk factors that may affect our
business, results of operations and financial condition. We
undertake no obligation to revise or update publicly any
forward-looking statements for any reason unless otherwise required
to do so by SEC Regulations.
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