AuthWallet Says Banks Infringed Mobile Payment Technology

AuthWallet LLC has filed separate lawsuits against multiple banks alleging each institution violated its patent for a technology related to processing financial transaction information on mobile devices.

The identical complaints were filed against The PNC Financial Services Group Inc., Cullen/Frost Bankers Inc., CIBC Bank USA, Amarillo National Bank, and Fiserv Inc., all in the US District Court for the Western District of Texas.

AuthWallet says the banks infringed its patent protecting technology that works as an intermediary between financial institutions and credit issuers. The technology uses a customer’s mobile device as a communication channel to notify the customer of a ...