edatanetworks Inc. announced today the approval of Patent 14/408,199 from the United States Patent and Trademark Office (USPTO). Patent 14/408,199 discloses an open loop cashless payment system that incentivizes consumers to transact in physical stores with merchants who make auditable donations to community and charitable organizations selected by the consumer.
“This open-loop cashless payment system patent complements our extensive intellectual property portfolio that includes automated enrollment, online-to-offline advertising, rich tokenized data, and directing merchant donations to local community and charitable organizations. The intellectual property portfolio transforms the way local small and medium businesses work together with community and charitable organizations through digital commerce for good. It ensures the merchants receive a measurable return on marketing spend with actionable insights on their micro-donations back to the communities where they live and prosper – at no cost to the consumers.” said Terry Tietzen, Founder and Chief Executive Officer of edatanetworks.
edatanetworks Inc. (edata), edatanetworks.com, a privately held intellectual property company established in 2001, has worked with many organizations and conducted multiple live market deployments creating patented philanthropic innovations utilizing existing technological and financial infrastructures—connecting consumers, local merchants, charitable and community organizations, digital media groups, communications companies, search providers, social networks, banks, payment networks, trusted intermediaries and other financial services organizations.