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Apple and Visa landed with electronic payments lawsuit

The company has claimed unspecified damages for the alleged infringements of patents for electronic payments and identity authentication technology
picture of iphone
USR claims its tech is at the heart of Apple Pay

Tech and e-commerce giants Apple Inc (NASDAQ:AAPL) and Visa Inc (NYSE:V) are being sued by a small Boston firm that alleges the two have infringed its electronic payments patents.  

Universal Secure Registry LLC claims its technology is at the heart of Apple Pay, the iPhone maker’s electronic payment system, and has been supported by VisaNet in billions of Apple Pay transactions.

The company has claimed unspecified damages for the alleged infringements of patents for electronic payments and identity authentication technology  that paved the way for their mobile payment platforms.

Kenneth Weiss, USR’s chief executive, claims he was "the first in the space” and made presentations to Apple and Visa in 2010 about a partnership utilizing his technology.

Apple is currently embroiled in a much higher profile legal spat with semiconductor group Qualcomm Inc over royalty payments for technology used in its iPhones.

It has accused Qualcomm of overcharging for chips and ordered four of its contract manufacturers not to pay it royalties until the issue is resolved.

Qualcomm does not get money directly from Apple but from contract manufacturers making iPhones and it is suing the quartet for non-payment.

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Visa Timeline

Newswire
July 25 2015

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