American Company Patented Bitcoin Payments Using Text Messages
August 10, 2018
American financial software company Intuit was awarded a patent for developing a solution for processing BTC payments through text messages.
According to the document, published by the United States Patent and Trademark Office (USPTO) on August 7, a developing system could allow users to transfer cryptocurrency with mobile phones.
The applications states:
"The invention relates to a method for processing payment. The method includes receiving, by a payment service from a payer mobile device of a payer, a payment text message comprising a payment amount and an identifier of a payee mobile device."
There would be two ways of processing transactions. The first one would involve sending a password of an account, while the second one would involve the verification through the use of voice mail by making a voice phone call.