Exigent Technology Inc., the intellectual property holding company affiliated with the Blackstone group of companies, announced today that it has amicably settled a patent infringement lawsuit it filed against Prepaid Network Corp., also of Miami, Florida.
Exigent is the owner by assignment of United States Patent No. 6,651,885, entitled “Multi-Function Transaction Processing System,” which issued on November 25, 2003, and for which the United States Patent and Trademark Office issued an Ex-Parte ReExamination Certificate on August 19, 2008. Using a POS terminal or touch-screen, menu-driven system, merchants can print or activate prepaid cards -calling cards, gift cards, Internet service, wireless recharge cards, etc.(electronic PINs are delivered via an integrated thermal card printer), accept checks, smart cards and ATM/debit/EBT (electronic benefit transfers) cards, process Visa, MasterCard, American Express and Discover Card transactions and view real-time reports.
The lawsuit alleged that Prepaid Network deployed through its retail customer network a system infringing multiple claims of Exigent 885 Patent.
Exigent and Prepaid Network amicably settled the lawsuit on confidential terms. Prepaid Network has recognized the 885 Patent and engaged PinservE, another in the Blackstone family of companies and licensee of the 885 Patent, for hosting, encryption, security PIN deployment and transaction workflow for its clients. Prepaid Network is excited about the new relationship and possibilities for future business between it and the Blackstone family of companies (blackstoneonline.com). The parties agreed to dismiss the lawsuit with prejudice.
Established in 1995, Blackstone has successfully managed to bring a complete end-to-end prepaid program to all retailers regardless of their size. Our comprehensive proprietary platform provides complete merchant solutions from credit/debit processing, prepaid products and bill payment solutions through a multitude of interactive touch screen systems. Our unique Point-of-Sale systems have dual prepaid capabilities, which no other company can offer. Blackstone consistently provides merchants with competitive prepaid and processing rates to meet all of their sales and processing needs.
About Exigent Technology, Inc.
Specializing in intellectual property, Exigent Technology, Inc. (exigentusa.com) licenses and provides customized networks for the prepaid marketplace. This patented system and software is currently being utilized in POS terminals, self-service and interactive kiosks and other devices around the world.
Exigent’s professional experience is in retailing, transactional/merchant processing and telecommunications with specialization in e-PIN technology. Exigent provides for the standardization, organization, management and distribution of e-PINs utilizing US Patent No. 6,651,885. This system and software is currently being utilized in POS terminals, self-service and interactive kiosks, and other devices around the world.
Established in 1999, PinservE offers the necessary tools for the management and distribution of electronic PINs. PinservE supplies hosting, encryption, security PIN deployment and transaction workflow for clients. PinservE has a complete end-to-end suite of products including: e-PIN management, security, hardware and e-Pins products including, long distance calling cards, wireless recharge cards, top-up cellular phone service, store value cards and gift cards to assistance companies in expanding their business. PinservE technology that delivers. For more information please call 1-888-286-5238.
About Prepaid Network Corp.
Established in 2003, Prepaid Network Corp specializes in the delivery of cutting edge technology to sell prepaid telecom products electronically. Prepaid Network Corp developed a unique distribution network of replenishment points where consumers can make such purchases or any other electronic transaction quickly and conveniently. For more information about Prepaid Network Corp and all their products and services, please contact us at 1-800-344-7072.