AuthWallet Sues Amarillo National Bank, Frost Bankers, and Fiserv for Patent Infringement
Authwallet LLC—an entity created in Illinois in May 2020, has filed a fresh round of complaints in its sole litigation
By: : Linda John
Update: 2023-03-09 03:30 GMT
AuthWallet Sues Amarillo National Bank, Frost Bankers, and Fiserv for Patent Infringement Authwallet LLC—an entity created in Illinois in May 2020, has filed a fresh round of complaints in its sole litigation campaign, suing Amarillo National Bank, Canadian Imperial Bank of Commerce (CIBC Bank), Cullen/Frost Bankers, First Citizens Bancshares (First Citizens Bank), Fiserv Inc., and...
AuthWallet Sues Amarillo National Bank, Frost Bankers, and Fiserv for Patent Infringement
Authwallet LLC—an entity created in Illinois in May 2020, has filed a fresh round of complaints in its sole litigation campaign, suing Amarillo National Bank, Canadian Imperial Bank of Commerce (CIBC Bank), Cullen/Frost Bankers, First Citizens Bancshares (First Citizens Bank), Fiserv Inc., and PNC Financial Services before the Western District of Texas for alleged patent infringement.
AuthWallet is a strong authorization tool that companies use to improve the security and convenience of your most important logins.
It is used to approve payments, high risk transactions, voice-initiated transactions and many more events with seamless, cryptographic authentication.
The asserted patent relates to processing financial transaction data, with the defendants accused of infringement through the support for certain mobile banking and payment functionalities, including Apple’s Apple Pay service.
AuthWallet's accusations focuses on apps used by financial institutions that allow customers to use credit cards through mobile pay applications.
Previously, AuthWallet had also sued credit card processors for infringing different patents on similar technology.
It was claimed by AuthWallet that it is the owner of U.S. Patent No. 8,099,368. AuthWallet claimed the '368 Patent’ claims an invention relating to methods and systems for processing financial transaction data in a server. The patent stipulated that the invention is “useful to consumers to be able to manage multiple payment instruments in a simple fashion.”
The infringement allegations against the credit card companies involved “purchase alert systems” – systems that track purchases by a specific credit card in some cases and by systems that allowed purchase with points in other cases. AuthWallet's attack on the hotel industry related to the operation of online platforms that accepted credit cards.