Next Generation Payments Platform offered to Ailing Financial Services Industry
Published October 29th, 2008
DualCurrency Systems of Minneapolis Minnesota announced that its two business methods patents for DualCurrency Pricing, Accounting and Transaction Settlement Systems, awarded in 1997, will be auctioned off in Chicago, IL on October 30, 2008 as part of the Ocean Tomo Live Fall Auction. The auction’s online catalogue can be viewed at Ocean Tomo Auction Catalogue.
http://www.oceantomoauctions.com/OTA_Catalogue_Lot.asp?eventid=102008&Lot=39
Under the terms of the auction IP Sales Agreement, DualCurrency Systems will retain a non-exclusive, fully paid-up, worldwide license with which to continue its work. The company seeks opportunities to collaborate with public policy and academic think tanks, as well as with corporate product innovations departments in banking, payment systems, loyalty rewards, card services and e-commerce
About DualCurrency Systems:
DualCurrency Systems (DCS) of Minneapolis, Minnesota, holds the first issued U.S. Patents for a next generation payment platform for banks, card processors and e-payments intermediaries. The DCS system exploits a significant inefficiency in the market by capturing currently overlooked wealth, such as empty restaurant tables, empty airline seats, empty college desks and excess retail inventory. The system utilizes a proprietary financial instrument — part barter dollar; part business scrip — to stretch consumer cash, as well as a Virtual Community Warehouse to store the new assets. Additional purchasing power is delivered to Network consumers through: increased employee benefits that don’t raise cash labor costs for employers; incentives for wellness behaviors; supplements to social security that don’t raise taxes on businesses or individuals; and rewards for community volunteerism.
