CARDFREE, a mobile commerce provider to large merchants, announced that it has been assigned a patent (U.S. Patent No. 8,622,292) granted to investor Jeffrey Katz. According to a news release from the company, the patent includes an integrated reservation, payment pre-authorization and management system that can be tied to a merchant's POS.

CARDFREE has also filed a patent for its Next Generation Stored Value Solution, which is built specifically for mobile and digital consumption and integrates offers, loyalty and various currencies seamlessly for merchant transaction processing, the release said.

"Our first year was focused on partnering with large QSRs who embraced the opportunities that our integrated mobile solutions offered, which we achieved. With this patent, we are now primed to take on fast casual and other restaurant segments as well as any merchants that use reservations," said Jon Squire, founder and chief executive officer of CARDFREE. "Reservations paired with our Stored Value Solution provide our partners with a unique combination of speed, accuracy, data and tender preference that fill a vacuum in the space."

Read more about POS.

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