Fiserv Ripped Off AmEx-Developed Payment Technologies, Suit Says

Fiserv Inc. rebuffed offers to license a broad array of patented payment technologies that it allegedly incorporated into products and systems it uses to issue, process, and authenticate credit cards and digital wallets, as well as merchant services it provides, according to a new lawsuit.

Liberty Peak Ventures LLC sued the S&P 500 company after Finserv allegedly rejected three offers to discuss licensing technology originally developed by American Express Co., according to a Nov. 9 complaint in the US District Court for the Eastern District of Texas. The non-practicing entity, which is wholly owned by patent-monetization giant Dominion Harbor ...