PayRange Inc., a network for everyday purchases, has filed an additional patent infringement lawsuit against KioSoft. Today’s newly filed lawsuit, involving a recently awarded PayRange patent (U.S. Patent No. 10,719,833), comes as the first patent infringement lawsuit against KioSoft moves towards trial in July 2021.
Founded in 2013, PayRange developed the original mobile payment system for non-networked unattended retail machines such as vending, laundry, and amusement. Its innovative technology and intellectual property portfolio are protected by 19 patents and another 35+ pending patent applications.
While PayRange is the market share leader with millions of users and hundreds of thousands of deployed machines, KioSoft unlawfully sells mobile payment solutions that infringe PayRange’s patented technology. PayRange’s patents cover not only the foundational approach of authorizing payment to unconnected machines leveraging the user’s smart phone, but also other innovations including viewing machine status on smartphones, firmware updating of offline machines, and retrofitting existing machines with payment acceptance devices.
“We’re pleased to have been awarded another patent based on our investment of tens of millions of dollars in research and development to bring to market solutions that revolutionized the industry,” stated Paresh Patel, Founder and CEO. “Today’s lawsuit emphasizes our ongoing efforts to defend our investment and to prevent competitors from selling infringing products.”
Wilson Sonsini Goodrich & Rosati (PayRange’s counsel on this matter) filed allegations stating that “KioSoft’s blatant patent infringement, including poaching PayRange customers and pursuing new business with a copycat product, is unacceptable. We look forward to securing damages, which could exceed $50 million, and a permanent injunction against KioSoft. Today’s new lawsuit emphasizes the growing strength of PayRange’s industry-leading patent portfolio.”
About Wilson Sonsini Goodrich & Rosati:
Headquartered in the Silicon Valley and with ten offices across the country, Wilson Sonsini Goodrich & Rosati is one of the top 100 law firms in the United States and boasts a strong intellectual property practice—ranked among the top 10 in Vault’s Intellectual Property Practice Area Ranking.
PayRange was founded by Paresh Patel, an unattended retail veteran, to provide operators and consumers with a simple and secure mobile payment and loyalty solution for laundry, vending, amusement, and other small ticket merchants. PayRange is the North American leader in mobile payments for unattended retail, with over 3 million users and a network of machines throughout 350 cities and towns in the US and Canada. Find out more at: https://www.payrange.com
Source URL: https://www.payrange.com%20
Release ID: 88983206