CLEVELAND, OH and RIDGELAND, MS – CardinalCommerce (Cardinal), the pioneer and global leader in authenticating remote payments and enabling payment brands, and SecureBuy, an industry leader in fraud prevention and security technology, announced that they have entered into a settlement of a dispute that began late last year. In November of 2013, SecureBuy filed suit against Cardinal and challenged Cardinal’s Universal Merchant Platform (UMP)-related inventions in the US Patent & Trademark Office and in Federal court. After several months of litigation with Cardinal, SecureBuy has agreed Cardinal’s UMP-related patents are valid and enforceable.
“We are pleased with the outcome and the results of the process. We have invested in our intellectual property since the beginning and it is reassuring to know that we have been confirmed as pioneers and inventors. Our Customers benefit from our award- winning and proprietary technology. With one connection, we can FutureProofTM the industry’s payment needs,” commented Mike Keresman, CEO of Cardinal.
Greg Wooten, CEO of SecureBuy added, “We are glad to have resolved this dispute, and we look forward to moving ahead with a new more productive relationship with Cardinal.”
CardinalCommerce has been a pioneer and global leader in enabling authenticated payment transactions in the card-not-present payments industry since 1999. Through one connection to our proprietary SafeCloud™ payment platform, CardinalCommerce enables friction free, technology-neutral authentication and alternative payment services, including digital wallets and mobile commerce services. Cardinal services, partners with and complements most providers in the marketplace to deliver their one-connection solution to secure transactions. In accommodating the growing number of payment brands and methods, Cardinal’s platforms serve as universal switches, supporting virtually all merchant platforms, wallets, legacy processing systems and authentication methodologies.
CardinalCommerce is headquartered in Cleveland, Ohio and services a worldwide Customer base from facilities in the United States, Europe and Africa. For more information, visit www.cardinalcommerce.com.
About Primus Capital
Primus Capital is a private equity firm that invests in high-growth companies within the healthcare, software, technology-enabled services, and education industries. Founded in 1983 and currently investing Primus Capital Fund VII, Primus has invested in over 100 growth companies. Transaction types include buyouts, recapitalizations and growth equity investments. For more information, visit www.primuscapital.com.