Acacia Technologies Licenses Fraud Protection System to Goodyear
Acacia Research Corporation has announced that Financial Systems Innovation LLC, a wholly owned subsidiary of the Acacia Technologies group, has signed a non-exclusive license for credit card fraud protection technology with Goodyear Tire & Rubber Company. The patented technology generally relates to a computerized system for protecting retailers and consumers engaged in credit card, cheque card, and debit transactions. The system includes an electronic card reader, and the generation and use of a transaction number, which specifically identifies each transaction processed within the system. As a result, the retailer does not necessarily have to print detailed information concerning the cardholder’s identity or account number on the customer’s receipt.