American Express and TQP End Data Encryption Patent Dispute
After asserting its patent for encrypted data transmissions (U.S. Patent No. 5,412,730) against over 20 banks and major credit card companies, TQP Development reached an agreement with American Express Travel Related Services to settle the dispute. TQP initially filed the suit in U.S. District Court for the Eastern District of Texas on March 25, 2009.
The Defendants include Barclays Bank, Prudential, Amazon,.com, Visa, and many more. TQP previously settled the matter with MasterCard back in June and with Amazon.com in July. This month is American Express.
Categories: Banking, Credit Card, Patent of the Week