A key patent has been secured in the US by loyalty software maker Catuity Inc.
Catuity issued a statement informing that it had secured a patent allowing it to conduct payment transactions and ticketing and loyalty programs electronically.
The patent allowed Catuity to operate systems that manipulated data on multiple devices, such as smart cards, and communicated with a host, the company said.
Catuity shares jumped 65 cents, or 16.05 per cent, to $4.70 by 1026 AEDT.
Catuity said it expected its patents pending in other countries, such Australia, were more likely to be granted considering the success of its US application.
The company said it had two more patents pending in the US which would extend the scope of the initial claim. The company said it believed a number of existing and proposed smart card card implementations could fall within the scope of its patent.
Catuity said extensive investigation regarding the patent position of its technology had confirmed the uniqueness of its products being installed in US banks, processors and large merchants.
