Valuable Cloud Wallet Patent Portfolio Available for Sale by ICAP Patent Brokerage

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| Source: ICAP Patent Brokerage LLC

New York, March 4, 2014 (GLOBE NEWSWIRE) -- (http://www.myprgenie.com) -- ICAP Patent Brokerage announces for sale a premier patent portfolio comprehensively protecting web/cloud services for mobile, web, and POS electronic financial transactions from Nexus Payments, LLC. This important IP package is available via sealed bid with a bidding deadline of March 27, 2014. Bids for this lot will be accepted starting March 25 through March 27.

"The evolution of the electronic payments industry in the U.S. is proceeding at a rapid pace. With priority dates from early 2005, this exciting electronic transactions portfolio offers a secure, cloud-based system and method for accessing financial and rewards accounts for mobile, web, and POS transactions. These assets will be of strong interest to those companies involved in financial transactions and payment processing, as well as cloud SAS providers, and computer software companies," says Dean Becker, CEO of ICAP Patent Brokerage.

Key Characteristics & Benefits

This unique IP portfolio comprehensively protects methods and systems for the Cloud Wallet(R), wherein consumers can store and access all of their payment and rewards accounts through a central server conveniently accessible via using just one PIN (on a tokenless basis) or via using any single token (e.g., magnetic strip card, mobile phone, NFC or RFID fob, smart card, etc.). The Cloud Wallet(R) PIN or token is uniquely secure because it is "thin-client," storing no fraud-vulnerable "live" payment or financial account data. The Cloud Wallet(R) also includes a rules engine which optionally identifies customized account preferences to automatically calculate and offer each payment account ranked by the lowest processing cost and highest rewards, optimizing retailer profitability and consumer benefits. The Nexus Cloud Wallet(R) provides the clear convenience of having just one token or PIN to access all financial and rewards accounts via a remote server, and the Nexus Cloud Wallet(R) and rules engine together deliver lower financial account fraud and reduced transaction costs, while increasing payment convenience and profitability for consumers, merchants, issuing banks, and payment processors. The Nexus Cloud Wallet(R) "thin-client" solution also provides a compelling answer to the problem of vulnerable POS payments as seen with the recent US retailer data breaches.

Also being offered with this portfolio is the Cloud Wallet(R) registered trademark.

See this technical description of the cloud wallet system IP sales offering.

Click here to view the Nexus overview presentation.

Click here to view the Nexus executive summary.

To learn more about the assets available for sale in this portfolio or to place a bid:

Contact Paul Greco of ICAP Patent Brokerage at (212) 815-6692 or via email at Paul.Greco@us.icap.com.

Visit our website to make a patent submission for an upcoming sealed bid event.

Follow us on Twitter (@ICAP_IP) and join our LinkedIn group.

About ICAP Patent Brokerage

ICAP Patent Brokerage is the world's largest intellectual property brokerage and patent auction firm, leveraging the talents of experienced intellectual property monetization professionals to match buyers and sellers for the sale of patents and other intellectual property assets. With multiple transaction platforms and unparalleled industry knowledge and experience, ICAP Patent Brokerage is the market leader in the transaction of intellectual property.

Sarah Saites, , 312-327-4437