Card Activation Technologies, Inc. Signs A Letter Of Intent To Purchase Intellectual Property

2008-08-13 06:30:00

    CHICAGO, Aug. 13 /EMWNews/ -- Card Activation Technologies

(OTC Bulletin Board: CDVT), owners of a patented point-of-sale technology

for the activation and processing of transactions related to debit styled

cards, which include gift cards, phone cards and other stored value cards,

today said that the Company has entered into a letter of intent to purchase

intellectual property of PayMed USA, LLC a Nevada Limited Liability Company

("PayMed")



    Mr. Bill Williams, President and CEO of Card Activation stated, "The

intellectual property we intend to purchase can allow us to add an

additional source of revenue by offering licensing agreements to Medical

Insurance Companies, Hospitals , Clinics and Physicians/Dental Providers.

The intellectual property covers a process for Self Pay Management which

will allow the providers to set up a patient installment contract for the

money to be electronically debited from their credit/debit or checking

accounts. The process has all the protections to ensure that the provider

gets paid. Today, as the patient's payments responsibility is increasing,

the need to have an effective user friendly web based solution which is

easy to implement is becoming imperative for the medical provider to

collect their payments."



    Card Activation Technologies, Inc. is a Chicago-based company that owns

proprietary patented payment transaction technology used for processing

gift cards, phone cards and other debit purchase transactions. The company

is actively seeking to license its technology to the thousands of current

users and believes that many retailers, gas stations, phone companies and

others that utilize those stored value cards, such as gift and debit,

infringe its patent. As a result, the company is aggressively pursuing

litigation against these infringements. The Federal Reserve Bank of

Philadelphia estimated prepaid card market to be valued in excess of $181.7

billion in transactions in 2006. According to market forecasts, the prepaid

industry will grow to $421.5 Billion by 2010. For further information about

Card Activation Technologies go to http://www.cardactivation.com



    Certain statements in this press release that are not historical facts

are "forward-looking statements" within the meaning of the Private

Securities Litigation Reform Act of 1995. Such statements may be identified

by the use of words such as "anticipate," "believe," "expect," "future,"

"may," "will," "would," "should," "plan," "projected," "intend," and

similar expressions. Such forward-looking statements involve known and

unknown risks, uncertainties and other factors that may cause the actual

results, performance or achievements of Card Activation Technologies, Inc.

(the Company) to be materially different from those expressed or implied by

such forward-looking statements. The Company's future operating results are

dependent upon many factors, including but not limited to the Company's

ability to: (i) defend its patent; (ii) build the management and human

resources and infrastructure necessary to support the growth of its

business; (iii) competitive factors and developments beyond the Company's

control; and (iv) other risk factors discussed in the Company's periodic

filings with the Securities and Exchange Commission, which are available

for review at http://www.sec.gov under "Search for Company Filings."





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