December 2024 – PayRange, a pioneer in mobile payment solutions for unattended retail, and Card Concepts Inc. (CCI), a leader in laundry payment technology, have announced the resolution of a patent infringement lawsuit filed by PayRange. The agreement includes a settlement and a licensing deal granting CCI access to certain PayRange mobile payment technologies.
The lawsuit stemmed from allegations by PayRange that some of CCI’s payment products infringed on its patents for mobile-based payment solutions. Through this settlement, both companies reaffirm their commitment to protecting intellectual property rights while continuing to deliver innovative payment technologies to customers.
Commitment to Innovation and Intellectual Property
“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. It ensures a level playing field for everyone while advancing the industry.”
Steve Marcionetti, President of CCI, echoed this sentiment: “Our priority at CCI has always been delivering the best possible experience to our customers. This licensing agreement ensures that we can continue to do just that while respecting innovation and intellectual property rights. We are glad to have found a constructive way forward.”
A Balanced Path Forward
The agreement highlights the willingness of both companies to seek a collaborative resolution, ensuring continued advancements in payment technology while maintaining respect for intellectual property laws.
This settlement allows both PayRange and CCI to refocus on their core mission: delivering cutting-edge payment solutions to their respective markets. Their partnership sets an example for fostering innovation, compliance, and cooperation in the rapidly evolving payment technology landscape.
