Patent Directed to Method of Payment Processing in Sales Transactions Found Abstract | Holland & Knight LLP

Patent Directed to Method of Payment Processing in Sales Transactions Found Abstract | Holland & Knight LLP

AuthWallet asserted a patent directed to methods and systems for processing financial transaction data against Block. Specifically, the claims outline a method for processing financial transaction data using authorization requests and conferring discounts and benefits to the consumer for use with future purchases with the retailer. Block moved to dismiss. In finding that the claims…

Patent Directed to Method of Payment Processing in Sales Transactions Found Abstract | Insights

Patent Directed to Method of Payment Processing in Sales Transactions Found Abstract | Insights

AuthWallet asserted a patent directed to methods and systems for processing financial transaction data against Block. Specifically, the claims outline a method for processing financial transaction data using authorization requests and conferring discounts and benefits to the consumer for use with future purchases with the retailer. Block moved to dismiss. In finding that the claims…

SDNY Finds Patent for Processing Financial Transaction Data Invalid Under 101

SDNY Finds Patent for Processing Financial Transaction Data Invalid Under 101

“The service of providing customers a discounted transaction has been ‘common among brick-and-mortar retailers’ and in the past, retailers have provided financial incentives, such as coupons, to customers during purchase…. [T]he ’852 patent simply describes that this conventional business practice may be effected by technology rather than by hand.” Last week, the U.S. District Court…