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UPaid Systems Settles First Case in Multiple Litigations

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UPaid Systems Settles First Case in Multiple Litigations

Card Systems Technology Company Pursuing Laundromats with Equipment From Card Concepts Inc. ("CCI") in Nine States for Patent Infringement

PR Newswire

HOUSTON, July 24, 2018 /PRNewswire/ -- London-based UPaid Systems Ltd. ("UPaid"), innovators in remote payment systems for secured cashless transactions, announced today it has ended patent infringement litigation against 24 Hour Laundry of Houston, Texas. This settlement ends one of 14 cases currently under litigation.

UPaid

A negotiated settlement was reached by the parties resulting in 24 Hour Laundry licensing UPaid's intellectual property used in the card payment system provided by Card Concepts, Inc. ("CCI") of Addison, Illinois.

According to Polsinelli's Greg Novak, lead counsel in the U.S. for UPaid, the innovation company "is currently pursuing litigation in North America across nine states, enforcing its patent on systems, and those systems' use, that facilitate pre-paid financial transactions and which are utilized in CCI's cashless or coinless products sold to and used by laundromats."

Simon Joyce, UPaid's CEO and Chairman describes UPaid as an innovative pioneer in both pre-paid and post-paid secure transaction technology. "The company has an expanding global patent portfolio, all of which UPaid has developed in-house, at our cost," he said. "The newest U.S. patent that will join the portfolio was allowed earlier this month and will issue shortly."

Joyce added, "The patents involved in the Card Concepts dispute have also been licensed to U.S. telecom carriers Qualcomm and Verizon, and UPaid recently satisfactorily settled a multi-year litigation with a leading international telecom provider in Australia over patents in the portfolio."

Dr. Pat Nunally, formerly head of IBM's wireless patent portfolio and now advising UPaid said, "Card Concepts, Inc. is the supplier of 24 Hour Laundry's payment system and has for months been aware of UPaid's patents and yet refused to license the patented technology which could have prevented the lawsuits against their customers for their use of the card systems. CCI is a provider of the infringing systems and as such is a defendant in one of the lawsuits brought by UPaid."

Michael Goss of 24 Hour Laundry said, "Cashless laundry equipment is the back bone of our business. Our settlement with UPaid allows us to focus on our business, employees and customers without risk of interruption."

Joyce contended that it is UPaid's continuing intention to "seek partners to benefit from our patented technology. When required, we will strenuously enforce our rights through litigation against offending laundromats. Importantly, we are also well aware of other business sectors that are infringing our proprietary rights. We will pursue those who take the value of our protected innovative work without paying for it."

Joyce added, "Our recent settlement reveals that many parties are not aware that the card equipment critical to their successful laundry business infringes our patents."  Joyce also said his company "encourages any company or individual using cashless payment systems to contact us. We will avoid litigation whenever possible, helping assure the success of small businesses."

About UPaid Systems Ltd.

UPaid Systems Ltd. is a developer of a centralized mobile payment processing platform for banks, mobile operators, and merchants, among others. The Company has provided applications for recharge of prepaid accounts through SMS, electronic bill payment and presentment, and billing for mobile content. UPaid Systems Ltd. was founded in 1997.

Media Contact:

contact@upaidsystems.com

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SOURCE UPaid Systems Ltd.

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