Radium Granted U.S. Patent for Innovation in Mobile Payments
ARLINGTON, VA, February 3, 2023 – Radium is thrilled to announce the grant of U.S. Patent No. 11,580,546, entitled "Systems and Methods for Interactive Electronic Transactions Based on GPS-Based Device Proximity Data." This patent solidifies Radium’s position as the only digital payment application capable of processing electronic payments based on proximity.
Our innovative use of GPS technology securely connects payers and recipients without the need to exchange personal information, phone numbers, usernames, or scan a QR codes. When users open the Radium app, they automatically see a list of nearby Radium recipients. After selecting a recipient, users may enter and confirm the payment amount, which is instantly added to the recipient’s Radium wallet, along with an immediate notification of payment to both users.
This patent underscores Radium’s commitment to privacy and security, enhancing the digital payment experience like never before.
Contact Information:
Clancy Murray
Radium Payments, Chief Operating Officer