Mikael Aronowitsch

Title: Innovations by Mikael Aronowitsch

Introduction

Mikael Aronowitsch is a notable inventor based in Täby, Sweden. He has made significant contributions to the field of payment technology, particularly with his innovative approach to cash card payments. His work has the potential to enhance the efficiency and security of financial transactions.

Latest Patents

Mikael holds a patent for a "Method for payment with cash card." This invention outlines a method for cash card payment in a payment station for debit and credit cards. The unique aspect of this invention is that the cash card contains a processor that stores a unique identity associated with a monetary amount. This amount can be linked to a money institution, such as a central bank, or transferred from a bank account. The system ensures that the amount is stored on the cash card without a direct connection to the cardholder, except through the unique identity. During a transaction, the payment terminal receives the amount and identity from the cash card, facilitating a secure transfer to the point of sale.

Career Highlights

Mikael is currently associated with Id Loop AB, where he continues to develop innovative payment solutions. His work in this company reflects his commitment to advancing financial technology and improving user experiences in payment systems.

Collaborations

Mikael collaborates with talented individuals such as Jan Vestlund and Peter Thorander. Their combined expertise contributes to the development of cutting-edge technologies in the payment sector.

Conclusion

Mikael Aronowitsch's contributions to payment technology through his innovative patent demonstrate his role as a forward-thinking inventor. His work has the potential to transform how cash card payments are processed, making transactions more secure and efficient.