“The lawsuit, filed by Universal Secure Registry in Federal District Court in Delaware, says that its chief executive, Kenneth P. Weiss, received 13 patents for authentication systems that use a smartphone, biometric identification such as a fingerprint and the generation of secure one-time tokens to conduct financial transactions,” Goel reports. “In the suit and in an interview, Mr. Weiss said he had extensive meetings in 2010 with Visa officials, including its chief executive at the time, to discuss working together on the technology. In the interview, he said that Visa had signed a 10-year nondisclosure agreement to gain access to the technology, assigned engineers to fully understand the details, but then dropped further communication without securing a license.”
“Three years later, Visa began work on the Apple Pay technology with Apple, MasterCard and American Express. Apple released Apple Pay to iPhone users in 2014,” Goel reports. “He said he is still hoping to reach some kind of agreement with Apple and Visa. ‘My intention is still to get into a conference room with them and resolve this,’ he said.”
Read more in the full article here.
MacDailyNews Take: Well, this is what the courts are for. We’ll see if there’s any infringement of Universal Secure Registry’s patents by Visa and/or Apple in due course.