GHL Systems renews focus on protection of intellectual property
Kuala Lumpur, 25 March 2009 – Leading end-to-end payment services enabler GHL Systems has recently increased initiatives in the protection of its intellectual property by way of patents - in line with its determination to be a leading creator of intellectual property and one of the most progressive, global organizations in embracing new, highly creative ways of driving and managing innovation in the payments industry.
According to Mr Jason Phua, GHL Systems’ Vice President of Product Marketing, "This re-emphasizing of intellectual property protection has been underscored by the fact that we believe everything we do is premised on the principle that GHL Systems' intellectual property is one of our core assets. And this represents the hard work, sweat and toil of research of our people, as well as the company's significant investments into research and development."
“Take for example, our NetMATRIX Terminal Line Encryption solution - that was the very first invention of its kind - a complete solution for fraud mitigation and encryption. Its approach, functions and features are now widely known as the de facto standard in the payments industry. However such novel approaches have indeed been willfully infringed upon and exploited by other companies before.”
GHL Systems’ NetMATRIX Terminal Line Encryption, first introduced in 2004, features end-to-end encryption on sensitive card data from the terminal direct to bank hosts and provides protection on both EDC networks, as well as ATM networks.
It is further hoped that in the long term, with the patenting and IP protection/licensing initiative, the company can reinvest the proceeds in R&D and continue the pursuit of innovation. Additionally, GHL Systems' long term plan is to license its patents and avail them to partners that respect international intellectual property rights.
As it stands, new patents have already been filed for its new line of wireless payment networking and communications devices - the NetAccess OPTIMUS series - which will represent potential fuel for further innovation.
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