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Sears To Settle Gift Card Technology Patent Suit

Law360 (January 6, 2009, 12:00 AM EST) -- A Chicago-based patent-holding company has said it reached a settlement with Sears Holding Corp. in a patent dispute related to gift card technology.

The payment transaction patent at issue in the infringement lawsuit filed more than two years ago in the U.S. District Court for the Northern District of Illinois relates to point-of-sale technology used to activate and process transactions using debit-like cards, including gift cards, phone cards and other so-called stored value cards.

Card Activation Technologies Inc., a unit of MedCom USA Inc., said the...
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