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[Alpha Biz=(Chicago) Reporter Paul Lee] It has been confirmed that Biz Model Line, a South Korean business model (BM) patent company, sent related official documents to Hyundai Card and other South Korean credit card companies, saying Apple Pay infringed on their patents.
They claim that the core of the Apple Pay payment process is patent infringement. Attention is focusing on whether it will lead to patent lawsuits in the future.
Biz Model Line, which claims patent infringement, is a company that invests mainly in startups, obtains patents, and engages in intellectual property business. As of 2022, it is known to have more than 1,500 patents.
The company claimed that the Apple Pay payment method violated the payment method patent it filed in 2005. The patent contents are a near-field transaction method. When a user brings a mobile phone near a payment terminal such as a franchise POS or kiosk when making a payment, it creates a token code, a disposable authentication code, on the mobile phone.
It delivers the code to the payment terminal through near field communication (NFC), the server (card issuer) receives the token code through the payment network and certifies it, and processes the payment based on the authentication results.
It is argued that it is similar to the Apple Pay payment method.
Major Korean credit card companies, including Hyundai Card, which is servicing Apple Pay, Shinhan, KB Kookmin, and Hana Card, sent official documents related to patent information from the company. It means that Apple Pay should review legal issues related to patent infringement.
Hyundai Card received an official document and even conducted an internal legal review. However, a company official said, "We received a related official document and reviewed the law, but we decided not to respond because we thought there was no problem."
Alphabiz Reporter Paul Lee(hoondork1977@alphabiz.co.kr)
