Graphic Business News

Channel VAS secures rights on its proprietary technologies

By: Emmanuel Bruce
Rwanda President H.E Paul Kagame (left) felicitating with the Founder/Group CEO, Channel Vas Group, Bassim Haidar
Rwanda President H.E Paul Kagame (left) felicitating with the Founder/Group CEO, Channel Vas Group, Bassim Haidar

Channel VAS Group, a global premium fintech and data analytics company, has been granted exclusive patents and intellectual property rights for its pioneer Airtime Credit and Data Credit products and services.

This is expected to serve as a deterrent to companies who may seek to copy some of its technologies.

The company, which is present in 34 countries including Ghana will also be allowed to update its airtime and data credit patents services to 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.

The Founder and Chief Executive Officer of the company, Mr Bassim Haidar said some companies sometimes try to copy what leaders in their fields were offering.and it was therefore necessary to update its technologies to stop suh attempts.

“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,” he stated.

He said securing the rights on its proprietary technologies was a necessary part of its business.

 “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,” he stated.

“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” he noted.

 He added that “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.