Keycorp licenses home-grown mobile technology

Keycorp has licensed technology developed by South Australian company Newcom Technologies to enable consumers to use mobile phones or Internet-enabled devices to receive online information and conduct secure financial transactions via a mobile e-commerce gateway. A spokesman for Newcom said Keycorp licensed the technology after Newcom was granted patents to protect the intellectual property for its multi-slot, mobile e-commerce solutions.

The patent covers multi-slot smart card technologies that will allow Keycorp to offer secure e-commerce payment technology in a wireless environment, the spokesman explained.

The two companies have also agreed to further develop each other's products and services.

"Our philosophy has always been that e-commerce will never truly take off until it is as convenient as cash," explained Keith Benson, chairman and founder of Newcom. "Linking our licensed technology with global companies like Keycorp fits within the vision we have set ourselves."

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