PayPal Files Patent for Bitcoin Payment Device
The international payments processor PayPal has filed a patent application with the United States Patent and Trademark Office (USPTO) for a payment device that will be able to process cryptocurrencies including Bitcoin, Litecoin, and Dogecoin. Multi-funding source support. All in all, the device will support credit cards, PayPal accounts, and cryptocurrency wallets, with Bitcoin, Litecoin, and Dogecoin already confirmed. The patent application for the physical device was made on May 26th. According to Softpedia: “The device is made up of two main modules, a payment module engine and a....
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There are some indications pointing towards Paypal finally introducing official support for Bitcoin and other cryptocurrencies. Paypal has filed a patent for a modular payment system. Although it seems to indicate this will be a hardware device of some sort, there is also a mention of using a virtual currency wallet system. Every time a company files a patent for some new form of payment technology, there seems to a buzz of excitement in the air. In the case of PayPal, their patent application revolved around a modular payment system, which offers some interesting traits. The PayPal....
PayPal Inc. has filed a patent application for a modular payment device that accepts bitcoin and other digital currencies. The application, filed with the U.S. Patent & Trademark Office, includes a lengthy description of how it manages virtual currencies and it specifically names bitcoin, Litecoin and Dogecoin. The application also describes physical characteristics of the device, and it includes an image of the device. Modular Payment Module. The application’s abstract describes a modular payment module. The module includes a chassis which has a modular device connector. A payment....
Paypal says “yes” to digital currency; content creators may find themselves getting rich; and Russia is the world’s latest cyber-attack victim. Want to catch up on your digital currency news? Take a look below and see what you’ve been missing. PAYPAL. PayPal has filed a patent for a new device that will allow for the acceptance of digital currency. The e-payment network has long hinted at a possible relationship with bitcoin, but several weren’t sure if purchasing bitcoins through PayPal’s platform was as far as the relationship would go. Happily, this doesn’t seem to be the case. The....
A patent application by eBay, the parent of PayPal, may signal that the company is making plans for its own virtual currency. The patent, which was applied for in summer 2012, is for something called a "gift token". It appears that eBay may have designs on developing a new way to distribute monetary value within the digital realm. "A gift can be given from a user of a payment provider to a gift recipient," according to US patent application 20130339188, which was published on 19th December 2013. "The recipient can be a member of the user's family, a friend, or any other person or entity.....
On October 22, 2015 the United State Patent and Trademark Office published eBay patent applications for 20150302400, “Distributed Crypto Currency Reputation System” and 20150302401, “Distributed Crypto Currency Unauthorized Transfer Monitoring System”. The reputation application will be discussed in detail below and while controversial, we will offer just an extract of the blacklist application as it does not appear to be a particularly interesting except for who submitted the application. The applications were filed by eBay, which (at the time) owned PayPal prior to its split. Both....