Major Payment Players Settle PatentInfringement Cases
VANCOUVER, British Columbia - (04/04/06) -- LML Payment Systems Corp. announcedMonday it has entered various licensing agreements on itselectronic check conversion technology with First Data Corp.,Electronic Clearing House and NOVA Information Services to settlepatent infringement claims brought by LML. Under terms of theseparate agreements, First Data's Telecheck Services unit; ECHO'sXPRESSCHEX unit; and NOVA have all agreed to license LML's patentsfor electronic check conversions and pay licensing fees. Financialterms of the settlements were not disclosed. LML Payment is afinancial payment processor that provides check processingsolutions including electronic check authorization, electroniccheck conversion, and primary and secondary check collection,including electronic check-re-presentment to national, regional andlocal retailers. It also provides routing of debit, credit and EBTtransactions to third party processors and banks and creditunions.