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PayRange, CCI settle patent infringement lawsuit

Tuesday, December 17, 2024 — 16:14:27 (EST)

PORTLAND, Ore., Dec. 17, 2024 /PRNewswire/ -- PayRange, a leading innovator of mobile payment solutions for unattended retail, and Card Concepts Inc. (CCI), a well-known provider of laundry payment technology, today announced that they have reached a settlement in the patent infringement lawsuit brought by PayRange against CCI. As part of the mutually agreed-upon resolution, CCI will license certain PayRange mobile payment technology.

The settlement addresses allegations by PayRange that some of CCI's payment products had infringed PayRange patents related to mobile-based payment technology. By entering into a licensing agreement, both companies reaffirm their commitment to respecting intellectual property rights, while ensuring that customers benefit from leading-edge payment solutions and continued investments in research and development.

"We are pleased to have reached an equitable agreement that validates our intellectual property and fosters innovation," said Paresh Patel, Founder and CEO of PayRange. "This resolution underscores our dedication to protecting our patents while providing fair and reasonable access to our technology. We believe that this outcome not only resolves our dispute with CCI but also sends a clear signal to the industry—while PayRange will continue to invest in R&D to modernize the industry, PayRange will also enforce its rights and uphold the integrity of its intellectual property, ensuring a level playing field for everyone."

"Our priority at CCI has always been delivering the best possible experience to our customers, and entering into this licensing agreement ensures that we can continue to do just that," said Steve Marcionetti, President of Card Concepts Inc. "By working constructively with PayRange, we have found a path forward that allows both companies to focus on delivering solutions to customers and serve our respective markets with confidence and respect."

This settlement and licensing agreement reflect both companies' willingness to work toward a balanced solution that encourages creativity, compliance, and continued advancement in payment technologies. As leaders in their respective fields, PayRange and CCI are committed to fostering an industry where businesses can thrive through innovation, cooperation, and adherence to intellectual property laws.

About PayRange:

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 9 million users and a network of machines throughout 350 cities and towns in the US and Canada. Find out more at: www.payrange.com

About Card Concepts Inc:

Card Concepts was founded in 2000 and was born from over 40 years of experience in the vended laundry industry. They specialize in providing innovative and reliable laundry payment solutions, including card and digital payment systems that can add additional payment options for customers and eliminate the reliance on coins. Their products, such as LaundryCard and FasCard, offer laundromat owners comprehensive tools for managing and growing their businesses, including remote management, advanced marketing, and loyalty programs. Find out more at: laundrycard.com/

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Source: Company press release.