Online payment service, PayPal Inc has fired the latest volley in its ongoing dispute with Bank One Corp, accusing the bank on Monday of infringing on its payment processing patent.
According to an Associated Press report, PayPal informed Bank One in February of this year that its online bill payment system represented an infringement of PayPal's patented technology, which allows internet users to make secure payments, and to authenticate transactions.
However, at the same time, the online payment firm is defending itself against a patent infringement case brought by Bank One's First USA Bank last year.
First USA has alleged that it holds the patent for a 'cardless payment system', which allows internet users to order goods online without having their credit cards in front of them.
However, according to AP, PayPal cited prior art in its defense, suggesting that the First USA patent is not enforceable "since the Bank One unit allegedly was aware of, and even used, earlier web transaction processing systems that operated the same way."
.
Network Tweets
Network BlogsContent
provided by
|
Archive | Resources | Partners | Site Map | Links | Newsletter Archive | Contact | RSS Feeds | About | Syndication | Advertising & Marketing | Recruitment | Terms & Conditions | Privacy & Cookies
Copyright © 2012 - All Rights Reserved - Tax-News.com
IMPORTANT NOTICE: Tax-News.com has taken reasonable care in sourcing and presenting the information contained on this site, but accepts no responsibility for any financial or other loss or damage that may result from its use. In particular, users of the site are advised to take appropriate professional advice before committing themselves to involvement in offshore jurisdictions, offshore trusts or offshore investments.
Write a comment