Mobile phones have increasingly become tools that consumers use for banking, payments, budgeting, and shopping. Given the rapid pace of developments in the area of mobile finance, the Federal Reserve Board began conducting annual surveys of consumers’ use of mobile financial services in 2011. This 78-page report, “Consumers and Mobile Financial Services” (March, 2015) examines trends in the adoption and use of mobile banking, payments, and shopping behavior and how the emergence of mobile financial services affects consumers’ interaction with financial institutions.
PaymentOne Files Patent Infringement Suit Against Zong Inc.
PaymentOne Corporation a mobile payments and carrier billing company, has filed a patent infringement lawsuit against Zong Inc., in the Northern District of California. In its complaint, PaymentOne asserts that Zong’s products and services infringe on multiple PaymentOne patents relating to phone number based validation, authentication, fraud control, and payments.
The complaint seeks unspecified damages and a court-ordered injunction against future infringement by Zong.
“For more than 10 years, PaymentOne has been at the forefront of developing and deploying technologies for carrier-based billing, mobile payments and advanced fraud protection,” said Joe Lynam, President and CEO of PaymentOne. “Since 2000, PaymentOne has invested significant time and money developing these proprietary technologies, and our systems have been deployed at numerous locations and merchants for much of this time. PaymentOne respects intellectual property rights and therefore has no choice but to aggressively pursue Zong and other companies that are infringing PaymentOne’s intellectual property.”
The asserted PaymentOne patents include United States Patent No. 7,080,049, entitled “Method And System For Processing A Transaction;” United States Patent No. 7,848,500, entitled “Method And Apparatus To Validate A Subscriber Line;” and United States Patent No. 7,848,504, entitled “Method And Apparatus To Validate A Subscriber Line.”
PaymentOne is represented in this action by the law firm Morgan, Lewis & Bockius, LLP.
Source: MarketWire