PayRange, a developer of mobile payment solutions for unattended retail, and laundry payment technology provider Card Concepts Inc. have reached a settlement in a patent infringement lawsuit brought by PayRange against CCI. As part of the mutually agreed-upon resolution, CCI will license certain PayRange mobile payment technology.
The settlement addresses allegations by PayRange that some of CCI’s payment products had infringed on PayRange patents related to mobile-based payment technology.
“We are pleased to have reached an equitable agreement that validates our intellectual property and fosters innovation,” said Paresh Patel, founder and CEO of PayRange. “This resolution underscores our dedication to protecting our patents while providing fair and reasonable access to our technology. We believe that this outcome not only resolves our dispute with CCI but also sends a clear signal to the industry – while PayRange will continue to invest in R&D to modernize the industry, PayRange will also enforce its rights and uphold the integrity of its intellectual property, ensuring a level playing field for everyone.”
“Our priority at CCI has always been delivering the best possible experience to our customers, and entering into this licensing agreement ensures that we can continue to do just that,” said Steve Marcionetti, president of Card Concepts Inc. “By working constructively with PayRange, we have found a path forward that allows both companies to focus on delivering solutions to customers and serve our respective markets with confidence and respect.”
