Leading global fintech and data analytics company, Channel VAS Group, has stepped up access security for its exclusive Patents and Intellectual Property rights on its airtime credit and data credit products and services.
The company services are live through mobile operators in 34 countries, the Airtime Credit and Data Credit Services which allow out-of-credit mobile network subscribers to obtain extra credit for call time and data usage in advance, providing Mobile Network Operators (MNOs) with a risk-free virtual airtime distribution channel.
In a statement, the company’s founder and Group CEO, Bassim Haidar said “Securing our rights on the proprietary technologies that we have first brought to the market is a necessary part of business for a company like Channel VAS, that spearheads the digital and fintech evolution”.
“By updating and expanding the patents on our Airtime and Data Credit Services in the 34 countries we operate in, we are making sure we protect our technology innovations and our partners against any infringements or unauthorized efforts from third parties to copy them.”
Explaining more, Haidar said: “These patents are not new. They have been owned by Channel VAS and subsidiary company Nairtime for years, as part of our worldwide operations, and their validity has been ratified by competent courts.”
“However, given the ever-evolving nature of our business and the technological advancements we are leading, we deemed it necessary to secure these new features of our platform by expanding our Patent Portfolio to legally protect our Intellectual Property against any efforts by third parties to copy it.
“Furthermore, we owe it to our business partners to ensure safety and stability in our business relationship, and most of all we owe it to the over 600 million people globally that are using our services and entrust us with the protection of their data privacy.
He added further that “It is only natural that there are some who try to copy what leaders in their fields are offering. Updating our patents is a solid deterrent to stop such attempts, by establishing our rights on the technology and brand names of our offerings.“ I am pleased to state that our patents on Airtime and Data Credit Services ensure our ownership of these services and protect us against potential infringement efforts by any third party. We now practically own the Airtime and Data Credit distribution method in key territories for the African region.”
