SmartMetric Inc (SMME)

[mrnutsandbolts]

2) A U.S. appeals court has blessed it — In March of 2010, SmartMetric Inc. filed a patent infringement suit against Visa and MasterCard (and, eventually, American Express) claiming that the companies' use of contactless payments infringed on a process it owned. In brief, the patent covered insertion of a chip-enabled card into a reader, thereby automatically initiating contact with a network.

A U.S. Federal Appeals Court decision on April 11, 2012, confirmed a lower court ruling that the patent did not apply to contactless payments because they do not meet the patent language specifying card insertion.

SmartMetric has a second case pending against the card companies over contact card use. And the contactless decision could strengthen SmartMetric's claim. But it could take a couple of years for the case to make its way through the courts, leaving the future of contact somewhat up in the air.

Read this at the atmmarketplace.com site 5/25. Title of article was 5 reasons to watch contactless cards.