Posts Tagged: "Mastercard"

Inventor Appeal to CAFC Challenges PTAB Authority to Invalidate Claims on Remand

D’Agostino’s appeal challenges PTAB authority to entertain invalidity on remand as no part of the IPR statute found in the America Invents Act (AIA) permits PTAB action more than 18 months after institution… The Federal Circuit remanded the reversed claim construction to the PTAB for further proceedings “not inconsistent with [the Court’s] opinion.” On appeal to the Federal Circuit, D’Agostino argued that the PTAB lacked the jurisdiction to entertain unpatentability on remand as no part of the IPR statute found in the America Invents Act (AIA) of 2011 permits Board action more than 18 months after institution, rendering that decision on remand ultra vires.

How Bitcoin Became a Game Changer Overnight

Bitcoin was touted as the world’s first decentralized digital currency. It basically is a cryptocurrency which uses peer-to-peer technology to provide payment network gateway. Bitcoin is deliberately designed for public use by making it an open-source. Therefore, nobody owns or governs or control Bitcoin and everyone can be a part of it. Bitcoin financial infrastructure follows decentralized and automated systems which overcome the inefficiency of the traditional financial system. The unique feature of Bitcoin is that no one can block you from transferring money from anywhere in this world. Further, this makes whole transaction process irreversible. These transactions are recorded in a public distribution ledger called a blockchain.

Mobile Payments: FinTech vs. Non-FinTech Patent Landscape

In November 2016, European Payments Council (EPC) launched the SEPA Instant Credit Transfer scheme. With this move, the payment coordination body of the European banking industry has placed over 34 European countries at the center-stage of mobile payments. This scheme will not only spearhead adoption of instant mobile payments and transactions worldwide, but also push the major economies of the World to start regulating the unstructured and incomplete mobile payments legal framework. Growing adoption of mobile payments and steps taken by other regulatory bodies of the world like EPC will certainly push USA to update its own regulatory and legal framework.

Mastercard holds largest patent portfolio in EMV payment space

EMV utilizes a computer chip implanted into a card to interact with a card reader at the point-of-sale in retail establishments. The technology is much more secure than typical magnetic stripes as the chip encrypts financial payment data multiple times which communicating with a terminal. Financial services providers all over the world will be replacing magnetic stripe cards with EMV cards to prevent cyber attacks at terminals to stem the growing tide of cyber attacks which had been greatly hurting banks. Following up our recent EMV coverage we took a look at EMV related patents, finding that Mastercard has a dominant position in this field with 25 patents, almost a quarter of all patents related to EMV payments issued by the U.S. Patent and Trademark Office. Following up behind Mastercard is Japan-based SMK Corporation and Intellectual Ventures Management of Bellevue, WA.