A developer of patented mobile payments and banking platforms, Xcellink International, reportedly issued patents in Australia (number 731121) and New Zealand (number 334917) called ‘Automated Electronic Funds Transfer System and Method.’ The patent applies to the mechanized data exchange program devised by Xcellink, which facilitates transactions between buyers and sellers, or in this context customers and merchants, over local wired or wireless links.

The latest set of patents issued helps Xcellink International enjoy the same patent protection across the length and breadth of Australasia. This allows better exploitation of local opportunities by helping suppliers of payments services who want to mechanize their consumer based management systems by using a local link. These links exist with a single license agreement and include Bluetooth, Infrared, Wi-Fi, Wi-Max and Near Field Communication, among others.

This presents an almost limitless business opportunity and in turn, Xcellink shareholders can benefit from improved returns over a period of time. It also helps payment service providers receive a good chance to be a vital component of the nascent consumer centric approach to contemporary and modern e-commerce.

Using the functionalities inherent in Xcellink, merchants, banks, financial institutions, mobile carriers and utility suppliers will be in a better position to evaluate and resolve the important challenges being faced in the realms of security and interoperability with current systems. They will also have enhanced capabilities to handle consumer demands for greater control and safety because of its operational ease, lesser cost of transaction and capability of site independent access.

 “With mobile coverage to 98 percent of Australia's 21 million people and a history of very early introduction of new technology, we are confident our technologies will be well received there,” a company spokesman said. “And with the mobile phone being a fashion statement with an average life of only one to two years, this is an exceptional opportunity to build Xcellink capability into mobile communications."

The patented technology is capable of functioning over a whole suite of wide area networks. These include the telephone, internet and wireless data, In reality the technology is capable of functioning in any network that can prop up safe and dependable messaging. This can be done using ‘Information Appliances’ like mobile phones, wireless PDAs, Internet access points and others.