HOLLYWOOD, Fla., Feb. 26 /PRNewswire/ --
Charge Notification Services Corporation (C.N.S.C.) has filed a lawsuit against VISA, Inc. for patent infringement. C.N.S.C. is a relatively young company in Miami, Florida, that offers information processing services to credit card issuing banks. The C.N.S.C. patent covers charge card transaction authorization and/or notification in real-time via SMS to the cardholder's cellular phone. VISA and some of their bank partners have recently been offering this service.
"We are very sorry that it had to come to filing this suit," says Ivan Ochoa, the C.E.O. of C.N.S.C. "For months we've tried exhaustively to work with VISA with no results. We're a young company but we have experience with this product and the credit card business as a whole. We have the knowledge and infrastructure to handle even the most extreme transaction volume. We've expended considerable resources on patent registration and product development."
Editor's note: Apparently Visa didn't get the SMSage
Daniel Davila, COO of C.N.S.C., adds: "In these economically troubled times people want to use their cards (debit, pre-paid, credit card and charge) and receive real-time information about charges to their account. If cardholders have to wait until they receive their statement to discover possible merchant errors or duplications, it's already too late to avoid the complex and time-consuming process of 'charge-back' that costs cardholders and businesses time, resources and aggravation. Of course what cardholders want most of all is to be confident that their card account will not be used fraudulently. All indicators show that card fraud activity is expected to increase even further. We have the line of products that will significantly decrease card fraud and give confidence to all cardholders that in the event their card or account information is ever stolen and used fraudulently our SMS service will send them notification within a matter of seconds from the moment it occurs. We are in the business of stopping the fraudsters and providing tremendous savings and other benefits to our card issuing clients. As VISA continues to infringe on our patent, we really must take this legal action against them to protect our business. In the meantime, of course, we continue to actively offer our services to all card issuing financial institutions."
Ochoa and Davila have a combined five decades of experience in the financial services industry. Mr. Davila's background includes 16 years at American Express where he was a Senior Director within the Global Network Services (GNS/Franchise) division and more recently, two years as Vice President and Chief Risk Officer of the credit card division at Russian Standard Bank (RSB) in Moscow. While at RSB, Mr. Davila launched a similar SMS credit card fraud protection service with great success, resulting in an overall significant reduction of fraudulent transactions. Mr. Ochoa's 25 years in the financial services industry include executive positions within American Express and MasterCard International, where he was Chief of Staff for Latin American countries. His areas of expertise include managing operations for multi-markets, re-engineering, quality control and technology. Mr. Ochoa has lead major innovative developments in products and systems.
SOURCE Charge Notification Services Corporation
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