PassTime announced today that it has been awarded a new patent.

For Immediate Release

LITTLETON, CO – September 27, 2011 PassTime announced today that it has been awarded a patent from the United States Patent and Trademark Office for Geo-Fence functionality surrounding its GPS and wireless products. The patent number 8,018,329, titled “Automated geo-fence boundary configuration and activation” which issued earlier this month covers geo-fences which, essentially, are virtual boundaries established in conjunction with its asset tracking devices. 

Claim 1 of the patent is directed to: “A method for configuring and activating a geo-fence boundary surrounding an asset, comprising: receiving a signal to activate a geo-fence boundary for an asset; responsive to the signal, automatically: determining a current location of the asset; defining a geo-fence boundary surrounding the asset based on the current location of the asset; and activating the defined geo-fence boundary; and subsequent to activating the defined geo-fence boundary, monitoring asset location with respect to the geo-fence boundary.”

“The geo-fence functionality is a great feature we offer our customers. As the patent indicates, the geo-fence features provide notifications for vehicles moving in or out of various virtual boundaries. This valuable invention is being integrating into a host of applications which will bring some exciting options that benefit our customers,” said Jerry Morgan, executive VP of product development for PassTime. 

The newly awarded patent is the third addition to PassTime’s patent portfolio in recent years. More than a decade after establishing itself as a market leader in providing GPS tracking and Automated Collection Technology to the automotive finance industry, PassTime continues to innovate with cutting edge products and services. 

For more information about PassTime, please visit www.passtimeusa.com or email info@passtimeusa.com. 

Headquartered in Littleton, Colorado, PassTime was founded in 1992; the PassTime Suite of Products is designed to improve customer payment performance and reduce default and repossession risks. In 1997, PassTime created its first Automated Collections Technology product. Over the next several years, a Suite of Products evolved that offer GPS tracking, wireless, and Automated Collections products and services designed to meet the needs of a highly diverse industry of car dealers and special finance companies. PassTime solutions facilitate higher rates of return on financing based upon improved customer payment performance. PassTime prides itself on a 24/7 Customer Care Support Center for partners, lenders, dealerships, and end-user customers. Over the past decade, PassTime has sustained industry leadership with its innovative products and services.

 

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