Mastercard Seeks Cancellation of Digital Wallet Tech Patent


Mastercard Inc. petitioned the US Patent and Trademark Office to review and cancel an OV Loop Inc. patent covering a method for securing mobile wallet transactions.

US Patent No. 10,032,171 is anticipated and obvious based on prior art, the payment-processing company said in its petition seeking inter partes review filed at the patent office’s administrative tribunal on Wednesday.

Mastercard also filed a motion to stay OV Loop’s infringement lawsuit over the patent the same day. OV Loop filed its lawsuit in the US District Court for the Southern District of New York in March, claiming infringement by Mastercard’s cloud-based payment …



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