skip to Main Content

Mobile commerce and payment solutions company says PayPal must pay in patent infringement lawsuit

According to a court case filed Thursday in the Western District of Texas, PayPal Inc. unlawfully used intellectual property owned by Fintiv Inc., a fintech company that provides “mobile commerce, payment solutions, and digital currency globally.” . The complaint claims that PayPal knowingly infringes five patents held by Fintiv through its mobile and web payment service offerings.

The complaint explains that PayPal has made “enormous profits” from the use of five mobile wallet patents invented by Fintiv, three of which are titled “Monetary Transaction System” and the other two “Use of Mobile Wallet Infrastructure”. to support multiple mobile wallet providers”. ”

The filing details discussions between the two companies starting in 2016 when PayPal explored licensing Fintiv’s technology and even acquiring the company. The negotiations reportedly lasted several years and included numerous phone calls and meetings. However, after a delay of more than a year, PayPal would have decided not to license the patents in question nor to acquire Fintiv.

“Accordingly, Fintiv brings this patent infringement action to end PayPal’s unauthorized and infringing use of Fintiv’s patented inventions and to recover damages suffered by Fintiv as a result of PayPal’s gross misconduct,” explains the trial.

It sets out ten claims for direct and indirect infringement of the five patents.

For consequential claims, Fintiv asserts that PayPal contributes to the infringement and/or induces others to infringe by “providing instructions to its partners, merchants, customers and end users on how to download and use the PayPal application, including through its website www”

Fintiv seeks a declaration that each of its patents is valid and enforceable, an injunction, and damages up to the maximum statutory maximum, including damages for willful infringement. The plaintiff is represented by The law firm Mort Law PLC.

Source link

Back To Top