Based on a ruling from the United States District Court, SmartMetric plans to pursue those it says are infringing on its patents regarding EMV chip cards.
Last month U.S. District Judge Jacqueline H. Nguyen upheld SmartMetric’s claim about the use of contactless chip cards.
SmartMetric intends to pursue action against those banks and networks it believes is violating its patent.
Within the last few months, Wells Fargo, J.P. Morgan Chase, U.S. Bank and Silicon Valley Bank have all announced plans to issue EMV standard contact chip cards. SmartMetric President and CEO C. Hendrick says the court’s rulings clarify that these banks, as well as Visa and MasterCard, have products that fall within the definitions of SmartMetric’s patent, and therefore, they shouldn’t be allowed to issue EMV contact chip cards.
SmartMetric hopes to receive licensing fees or court-dictated awards from those companies that violate its patent.