PayRange and Card Concepts Inc. Announce Resolution of Patent Dispute with Licensing Agreement

PayRange and Card Concepts Inc. Settle Patent Dispute

In a significant move for the mobile payment industry, PayRange, a leader in mobile payment solutions for unattended retail, has announced a settlement with Card Concepts Inc. (CCI), a prominent provider of laundry payment technology. This resolution comes after allegations that some payment products from CCI infringed upon PayRange's patents concerning mobile payment technology.

As part of the settlement, CCI will enter into a licensing agreement with PayRange, affirming a commitment to intellectual property rights while ensuring customers benefit from cutting-edge payment solutions. Paresh Patel, the Founder and CEO of PayRange, expressed his satisfaction with the resolution, stating, "We are pleased to have reached an equitable agreement that validates our intellectual property and fosters innovation. This outcome not only resolves our dispute with CCI but underscores our dedication to protecting our patents."

Commitment to Innovation

The licensing agreement is designed to allow both companies to continue their focus on customer experience and market solutions. Steve Marcionetti, President of CCI, emphasized that their priority is to enhance customer experiences, stating, "Entering into this licensing agreement ensures that we can continue to do just that. By working constructively with PayRange, we've established a path forward that allows both companies to serve our respective markets with confidence."

This collaborative approach aims to promote creativity and compliance in the fast-evolving field of payment technology. Given the rapid advancements in the landscape of mobile payments, both companies are poised to leverage this agreement to advance their technological offerings. Industry experts view this as a positive step that could inspire similar collaborations in the market, reinforcing the importance of adherence to intellectual property laws.

Background on the Companies

Founded by Paresh Patel, PayRange has become a leader in unattended retail mobile payments, with a network covering over 350 cities and towns across North America. With over 9 million users, PayRange provides simple and secure mobile payment and loyalty solutions tailored for laundry, vending, amusement, and other small ticket merchants.

On the other hand, Card Concepts, established in 2000, has specialized in innovative laundry payment solutions. With its extensive background in the vended laundry industry, CCI offers reliable card and digital payment systems that eliminate the reliance on coins, revolutionizing the user experience in laundromats through solutions like LaundryCard and FasCard.

Looking Ahead

The recent settlement between PayRange and CCI is a promising development for the mobile payment sector. By taking a constructive approach to intellectual property disputes, both companies demonstrate their commitment to providing consumers with innovative solutions. They reaffirm their dedication to collaboration, which is essential for the industry’s progress, underscoring the belief that robust partnerships can lead to mutual growth and advancement in technology.

As they move forward, it will be interesting to see how the two companies implement this agreement and what new innovations they will bring to the market.

For more information on their services, visit PayRange and Card Concepts Inc..