PayPal Hit With Patent Suit Over Fintiv’s Mobile Wallet Tech (1)

Financial tech company Fintiv Inc. has sued PayPal Holdings Inc., alleging PayPal uses its patented mobile wallet technology without permission.

Fintiv said in a complaint filed Thursday that PayPal expressed an interesting in acquiring Fintiv, and also discussed licensing its patents. Talks broke down but PayPal continues to use Fintiv’s technology in its servers and backend system that interacts with mobile devices, Fintiv said.

The lawsuit, filed in the U.S. District Court for the Western District of Texas, alleges infringement of five patents.

Fintiv has already accused Apple Inc. of infringing a patent related to contactless cards. The case is ...