Radium Payments Granted U.S. Patent for Innovation in Mobile Payments
ARLINGTON, VA, February 3, 2023 – Radium Payments is pleased to announce the recent grant of U.S. Patent No. 11,580,546, entitled “Systems and Methods for Interactive Electronic Transactions Based on GPS-Based Device Proximity Data.” With this patent, Radium Payments has proven its innovative approach to mobile payments and will remain the only mobile payment application with the ability to process payments electronically based on proximity. More specifically, the patent recognizes Radium’s use of the Global Positioning System (GPS) to link payers with recipients, ensuring monetary transactions can be completely private and secure.
The patented technology allows Radium users to immediately view a list of nearby Radium recipients upon opening the application. No exchange of personal information, such as a phone number or user name, or the scanning of a QR code are required. The user then selects from a list of nearby Radium recipients, enters the desired tip amount, and confirms that payment. The tip is automatically placed in the recipient's Radium wallet, who is also immediately notified of the payment.
Contact Information:
Clancy Murray
Radium Payments, Chief Operating Officer