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U.S. Patent Office Issues Bill Payment Patent to Payment Data Systems
SAN ANTONIO, TX, Apr 17, 2006 (MARKET WIRE via COMTEX News Network) -- Payment Data Systems, Inc. (OTC BB: PYDS), an integrated electronic payments solutions provider, announced today that the United States Patent and Trademark Office has issued Patent Number 7,021,530 for the company's technology and method for managing and processing bill payment via a stored-value debit card, check card, signature debit card, PIN based card or automatic teller machine (ATM) card from a variety of access points.
Louis Hoch, President and COO, gave an overview of the patent by saying, "The patent provides us legal protection for technology and method that links a bill payment and all variations of debit cards. We are very excited about the intellectual property that accrues to Payment Data Systems though this patent. We believe this patent could enhance our valuation and it certainly validates our ability to innovate technology and provide marketplace leadership. We believe the issuance of this Patent will quickly become an industry-changing event."
About Payment Data Systems, Inc.
Payment Data Systems is an integrated payment solutions provider to merchants and billers. We provide an extensive set of tailored products to deliver world-class payment acceptance, processing, and risk/fraud management. Payment Data has solutions for merchants, billers, banks, service bureaus and card issuers.
Payment Data is the owner of the electronic bill payment portal, http://www.billx.com, which has the ability to transmit payments to thousands of national billers.
Payment Data is also the exclusive license holder of the rights to market the Carmen Electra gift and prepaid cards. To receive updates on the Carmen Electra card program sign-up at www.carmencard.com or www.electragift.com.
Payment Data's intellectual property includes U.S. Patent Number 7,021,530 that relates to bill payments made with debit, prepaid and stored-value cards.
For additional information, visit www.paymentdata.com. Contact Michael Long for Investor Relations information at 210.249.4040 or email at ir*paymentdata.com.
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