Diebold Racks Up Patents Covering Mobile Banking

By Bills, Steve | American Banker, August 28, 2007 | Go to article overview

Diebold Racks Up Patents Covering Mobile Banking


Bills, Steve, American Banker


Diebold Inc. is staking its claim on technologies that use cellular phones and other mobile devices to interact with automated teller machines and with other payments systems.

The North Canton, Ohio, ATM maker plans to announce today that it has received several patents for methods of connecting mobile devices to banking systems.

Jim Block, Diebold's director of global advanced technology, said the company has received five patents over the past 18 months or so and has more applications pending before the United States Patent and Trademark Office.

"These are adding to the ways in which you can interact with your financial institution," he said.

Perhaps the most noteworthy patent enables a bank network to receive wireless communications of information such as customer bank account numbers and account values. That might appear to make a broad claim about checking a balance wirelessly, a basic feature of nascent mobile banking services, but Diebold said this patent defines how a wireless device communicates with a bank network to dispense cash and assess a customer's account for the value of the cash dispensed.

Mr. Block said the patent covers technology "specifically to dispense cash out of the ATM." Existing wireless banking technologies largely involve "logical transactions" and the transfer of funds or information such as a balance inquiry, he said.

"Our patent portfolio in the mobile space is about physically interacting with something relating to transactions," he said. "As far as we know, no one is implementing this yet."

Bob Egan, the director of the emerging-technologies practice at TowerGroup of Needham, Mass., an independent research group owned by MasterCard Inc., said such developments are not only to be expected, but are necessary to the creation of new markets.

"I think it's a natural step in the evolution of mobile banking," he said. "It doesn't curtail development."

Mr. Egan cited the debate over "push e-mail," which had been patented by another company long before Research in Motion Ltd. popularized the technology through its BlackBerry e-mail pads.

"Ten years later, RIM finds itself in the throes of a huge lawsuit," he said. "It didn't curtail the development."

Mr. Block said years of work went into the research. The patents, the most recent of which was issued in April, are for applications the company filed two to three years ago, on research that began in the early 2000s, when banks began to develop applications for mobile devices. …

The rest of this article is only available to active members of Questia

Sign up now for a free, 1-day trial and receive full access to:

  • Questia's entire collection
  • Automatic bibliography creation
  • More helpful research tools like notes, citations, and highlights
  • A full archive of books and articles related to this one
  • Ad-free environment

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items

Items saved from this article

This article has been saved
Highlights (0)
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

Citations (0)
Some of your citations are legacy items.

Any citation created before July 30, 2012 will labeled as a “Cited page.” New citations will be saved as cited passages, pages or articles.

We also added the ability to view new citations from your projects or the book or article where you created them.

Notes (0)
Bookmarks (0)

You have no saved items from this article

Project items include:
  • Saved book/article
  • Highlights
  • Quotes/citations
  • Notes
  • Bookmarks
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

1

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Cited article

Diebold Racks Up Patents Covering Mobile Banking
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Sign up now to cite pages or passages in MLA, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    For full access in an ad-free environment, sign up now for a FREE, 1-day trial.

    Already a member? Log in now.