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Posts Tagged: "paypal"

Patents on Transactions Using Cryptocurrency: Square versus PayPal

Cryptocurrencies are virtual currencies based on blockchain technology that uses a network of computers to keep a public ledger of past transactions. The most popular cryptocurrency is Bitcoin, which some believe could replace bonds and serve as a reserve currency in the future. The value of Bitcoin has skyrocketed over recent years, as major companies are buying into it. In February 2021, Tesla Inc. bought $1.5 billion worth of Bitcoin and announced plans to start accepting the currency as payment for its electric vehicles. Since Bitcoin has the potential to be used directly in commercial transactions, fintech companies are developing and patenting related technologies.

Other Barks & Bites, Friday, October 18: USPTO Updates Subject Matter Eligibility Guidelines, China Receives Half of 2018 Global Patent Filings, US Inventor to Host Rally

This week in Other Barks & Bites: US Inventor will host an inventor rally during AIPLA’s Annual Meeting to protest the PTAB; the Federal Circuit vacates dismissal of infringement case against Sirius XM; the USPTO updates subject matter patent eligibility guidelines, changes TEAS access, and seeks participants for a beta release of the Patent Center; WIPO reports that China received half of all patent application filings in 2018 while the United States saw its first patent filing decline in a decade; Google files a supplemental brief at the Supreme Court in its case against Oracle; Katy Perry files a motion to overturn the “Dark Horse” copyright verdict against her; the FCC approves the merger between mobile wireless firms T-Mobile and Sprint; and U.S. Customs proposes rulemaking to improve its detention of copyright-violating goods imported at the U.S. border.

PayPal Secures Patent for Augmented Reality Glasses

The unusual direction of innovative developments in the field of fintech is underscored by U.S. Patent No. 9953350, called Augmented Reality View of Product Instructions, which was issued to PayPal in late April. This patent protects a method by which an augmented reality view of an identified object is generated to include promotional material, recommendations, location to purchase the product and product instructions from a database correlated with the object. This technology enables the user’s ability to access information related to a product by creating an augmented reality in which users may be able to see product and service reviews and listings associated with buyers and sellers, recommendations, and product tutorials.

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.

PayPal Accuses Paytm of Trademark Infringement in India

On November 18, 2016, Paypal Inc. filed an objection at the Indian Trademark Office accusing Paytm, an Indian mobile wallet company, of trademark infringement. The objection comes at the heels of the recent windfall made by the latter on account of a cash-strapped nation moving rapidly towards a cashless normal. For six years, Paytm had been steadily becoming a household name in middle-class India – until it really hit the jackpot on November 8, 2016 when the Indian Prime Minister Narendra Modi announced demonetization of currency notes of Rs. 500 and Rs. 1000 – invalidating overnight 80% of the country’s cash in circulation.

Businesses must switch to EMV card readers to avoid shift in fraud liability

By the end of 2015, about 40% of all credit and debit card transactions will use EMV cards. To process payments on EMV cards, businesses must upgrade to new card processing or point-of-sale technologies.

Late October gains on Wall Street bolstered by strong tech earnings

Although some tech companies publishing earnings reports had rockier third quarters than others, performance was very good almost across the board, making now a very good time to be in the consumer or high tech industries. The third quarter of 2015 is the first one for which Google reported its earnings under the name of its new parent holding company, Alphabet Inc. (NASDAQ:GOOG). The early returns are showing that the new structure is a profitable one for Alphabet, which beat analyst estimates for earnings per share (EPS) by almost 15 cents per share. It was a much different story for IBM (NYSE:IBM) of Armonk, NY, when its earnings report missed on the low side of analyst expectations, marking the 14th straight quarter for which the enterprise tech developer has reported falling revenues.

Banks struggle to keep up as cybersecurity risks increase

Regulations will likely start rolling out in the coming year starting at the state level. In May of last year, for example, the New York State Department of Financial Services released a report which said that the agency would add cybersecurity measures to the list of items that it investigates when evaluating a bank’s overall safety and soundness. New York, and New York City in particular, is home to a huge banking industry that represents some of our nation’s largest financial institutions, including American Express, JPMorgan Chase, Goldman Sachs and Merrill Lynch. According to remarks made by NYS DFS Superintendent Benjamin Lawsky in late February, state regulations could involve the use of multi-layer authentication systems for firms regulated by the DFS.

RMail v. Amazon.com: Can Invalidity Based on 35 U.S.C. § 101 Be Properly Raised as a Defense in Litigation?*

As pointed out astutely by RMail is that the Supreme Court jurisprudence on patent-eligibility under 35 U.S.C. § 101 have primarily involved ex parte prosecution appeals from the USPTO. There are only two instances involving patent litigation I’m aware of where the Supreme Court squarely determined patent-eligibility under 35 U.S.C. § 101: the recent case of Mayo Collaborative Services v. Prometheus Laboratories, Inc. (ruling that the claimed method was patent-ineligible under the “law of nature” doctrine); and the 2001 case of Pioneer Hi-Bred International v. JEM AG Supply (which ruled that sexually reproduced plants qualified as either “manufactures” or “compositions of matter” under 35 U.S.C. § 101). But as RMail correctly observed, no one seems to have pointed out to the Supreme Court this important threshold issue of statutory construction, and statutory limitations on the powers of the federal courts. Accordingly, Prometheus does not bar this Court from issuing a correct ruling in the present adversarial context.

Internet Giants Fight Badware in Ads Integrity Alliance

Over recent years, online advertising has been a driving force in the growth of the Internet. As business owners, you never stop hearing about the benefits of having your own website and advertising your services on-line. I am guilty of preaching this sermon myself! However, because of the ever-increasing existence of badware, it has become increasingly difficult to know what ads or websites we can trust. Thankfully, tech giants such as Google, Twitter, Facebook, PayPal and others have joined forces with StopBadware.org and formed the Ads Integrity Alliance (AIA) in order to combat Badware, protect users from bad ads and maintain the integrity of the “online advertising ecosystem.”

LinkedIn IPO Huge Success, Valuation of $8.79 Billion

LinkedIn announced this week that the professional social networking giant is now valued at $8.79 Billion, roughly 38 times sales figures reported in 2010, after it’s first day as a publicly traded company on May 18. This may be hard to believe by many because LinkedIn has never reported being profitable, nor have they ever made more than $250 million in any one year. However, within minutes of LinkedIn initially offering 7.84 million shares priced at $45, the shares doubled in price and at one point in the day LinkedIn’s Initial Public Offering (IPO) peaked in excess of $122 per share.

eBay’s PayPal Sued for $11.4 Billion for Patent Infringement

The complaint seeks $3.8 billion in damages at a minimum, but no event less than a fair and full reasonable royalty, but also seeks tripled damages as a result of willful infringement, which would bring the total to $11.4 billion at a minimum. While willful infringement is quite hard to prove, if the facts actually are what is alleged it would seem as if the case is exceptional, which could lead to triple damages and attorneys fees as well. So when you add that all together and add pre-judgment and post-judgment interest, the total amount on the line could easily exceed $15 billion. And before you write this off as a patent troll trying to hold up a true innovator, which some of the uninformed in the popular press are doing already, read the rest of the article and take a look at the complaint. If the facts alleged even remotely resemble reality this could turn out to be an epic battle to which we will all want front row seats!