Channel VAS Secures Intellectual Property, Updates Airtime, Data Credit Patents

By Emma Okonji

Channel VAS Group, the global premium fintech and data analytics company, has been granted exclusive Patents and Intellectual Property Rights (PIPR) for its pioneer Airtime Credit and Data Credit Products and Services (ACDCPS).

Channel VAS products are live through mobile operators in 34 countries.

Airtime Credit and Data Credit Services allow out-of-credit mobile network subscribers to obtain extra credit for call time and data usage in advance, providing mobile network operators with a risk-free virtual airtime distribution channel.

“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,” stated Mr. Bassim Haidar, the company’s founder and Group CEO, while speaking at a forum recently.

He explained, “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.”

Asked for more details about the patents, Haidar said, “These patents are not new. They have been owned by Channel VAS Group and its 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 and 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.”

Channel VAS has been recognised as a global leader in introducing innovative proprietary tools to the fintech market, providing valuable solutions to Mobile Network Operators (MNOs) and their subscribers.

As Haidar further explained, “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.”

Channel VAS is offering airtime and data credit services, as well as other innovative mobile finance and fintech services in 34 countries worldwide, covering most of West Africa, South and East Africa as well as several Middle Eastern and Asian countries.

The company’s expansion is supported by a strong portfolio of proprietary intellectual properties on the products and tools offered to MNOs and businesses across the globe.

Casting a retrospective glance at the origin of the company, a cross section of analysts said, “It is of great significance to see a company like Channel VAS that originated from Nigeria only a few years ago, not only to have now become a global Fintech leader that has expanded in 34 countries, but also to be able to patent and secure its intellectual properties internationally. This shows that great ideas may come out of this country that can impact people on a global scale and be recognised for their originality and pioneering status.”