10th May 2022 : ISX Financial EU Plc is pleased to announce that it has been granted a further patent for “Computer systems, computer-implemented methods and software for processing payouts”, with a patent expiry date of 22 March 2038.
South African Patent Number "2019/06967" relates to a payout processing system which provides a mechanism for merchants to use refunds to cards as a means to payout winnings associated with gaming, wagering or trading.
One of the advantages conferred is that payout monies are made available back to the funding source, which mitigates money laundering risk. Further, the funds are available to the card holder to use again or withdraw.
The Company has applied for patent protection in other jurisdictions.
Further details are available from:
https://worldwide.espacenet.com/publicationDetails/biblio?FT=D&date=20220428&DB=EPODOC&locale=en_EP&CC=ZA&NR=201906967B&KC=B&ND=4
The Patent Certificate can be found below:
