European Patent granted to SQID Technologies Limited [formerly Qpay Holdings Ltd]
SQID Technologies Limited provides intelligent backend solutions in transaction processing secured through authentication of “card not present” payments.
This provides a higher level of security than “chip and PIN” and is easily used in a remote context in both online and offline capacities.
SQID’s telephony based IVR interactive authentication has patents granted in the USA, Australia, Singapore, South Africa, Ukraine, Colombia and the Philippines, with the European patent the latest to be granted. Further patents are pending in other jurisdictions worldwide.
Qpay Holdings Ltd Chairman, Peter Hall announced the granting of the European Patent stating,
“This patent is further validation of the strength of Qpay Holdings Ltd as a preferred vendor to provide smart, secure and scalable backend solutions to align with customized platforms and interfaces. Qpay Holdings Ltd, through its wholly owned subsidiary, SQID Payments Pty Ltd, has successfully created a robust market presence by appealing to merchants who are looking for a payment delivery process that requires customized backend solutions to facilitate effective and efficient of the merchants operating platform. The patented Qpay technology creates an extra layer of secure authentication, when implemented, that enables SQID Payments to deliver secure custom solutions to individual merchant needs and requirements.”
SQID Technologies Limited is the parent company of SQID Payments Pty Ltd. As an accredited merchant aggregator for Westpac Bank, SQID Payments provides merchant services direct to Australian businesses without the need for a separate merchant account. The SQID intelligent settlements platform allow customisation of funds settlement solutions for larger business payment integrations.
SQID Technologies Limited is an unlisted public company planning to list on a recognised stock exchange during 2015.