Press Release Source: NeoMedia Technologies, Inc.
NeoMedia Signs Teaming Agreement with Check 21 Standard-Bearer IPSO
Thursday June 3, 8:30 am ET
FT. MYERS, Fla.--(BUSINESS WIRE)--June 3, 2004--NeoMedia Technologies, Inc. (OTCBB: NEOM - News), the developer of the patented PaperClick® technology platform that links physical objects to targeted online information, announced today that it has signed a teaming agreement with IPSO (www.ipso-inc.org), an integrator of proprietary solutions developed by its provider companies for its financial institution members and a leader in meeting Check 21 standards.
ADVERTISEMENT
Last month, NeoMedia demonstrated how PaperClick met standards of the "Check Clearing for the 21st Century Act" (Check 21) in IPSO's BAI TransPay 2004 trade show booth. Enacted by Congress and signed into law last year, Check 21 requires banks to begin accepting substitute checks (called IRDs for image replacement documents) in lieu of original checks as of October 29, 2004.
Under today's agreement, NeoMedia and IPSO will partner on proposals and presentations, sharing information and data pertinent to the solution being developed and implemented.
PaperClick supports MICR (magnetic ink character recognition) technology, with codes on checks scanned and transmitted through a secure electronic gateway into the payments system, and then through the Internet or an institution's intranet. PaperClick provides quick and accurate access to audit trails of checks in keeping with the mission of Check 21.
IPSO's IRD/Image Placement Network is designed to convert checks to IRDs at point-of-sale, lock box and check processing.. The IPSO System supports digitized images, evaluates them for re-scanning, transmits them to IRD providers, pulls them from archives for IRDs, and provides quality assurance and warranty of images and imaged data for all.
"Teaming with IPSO is a great opportunity for NeoMedia and our PaperClick technology platform to make valuable inroads within the financial community and the emerging Check 21/IRD marketplace," said Charles T. Jensen, NeoMedia's president, COO and acting CEO. "With more than 7,600 banks and 5,000 credit unions in the U.S. required to accept IRDs as of October 29, PaperClick codes on IRDs can be instrumental and valuable in establishing control and authenticity of the documents."
IPSO 'Excited' About PaperClick Platform
Chris Dowdell, IPSO's president and also chairman of the Accredited Standards Committee X9B (www.x9.org), said both organizations "have worked to establish a standard for IRDs which will serve all businesses involved with the U.S. Payments System.
"IPSO has accepted the challenge of providing a robust, efficient and cost-effective infrastructure for IRDs," he said. "We believe PaperClick can be instrumental in helping deliver an important and reliable platform and capability for the validation of IRD authenticity to our member companies and all financial industry participants in the transaction life-cycle."
NeoMedia Refiles Patent Infringement Law Suit vs. LScan
In non-related news, NeoMedia said it has refiled a Patent Infringement and Damages suit against LScan Technologies Inc of Conshohocken, Pennsylvania, in the Eastern District Court of Pennsylvania after asking the Northern District Court of Illinois, Eastern Division, to dismiss the suit it filed in late January "without prejudice."
The Complaint claims infringement on four valid and subsisting patents which it owns - U.S. Patents No. 5,933,829, No. 5,978,773, No. 6,108,656, and No. 6,199,048 - alleging that LScan (www.lscan.com) has manufactured, or has manufactured for it, and has used, or actively induced others to use, technology which allows customers to use a built-in UPC bar code scanner to scan individual items and access information, such as market data and pharmaceutical products.
|
Thread abonnieren
Yours sincerly, TheArtistFormerlyKnownAsRalph
