SDNY Finds Patent for Processing Financial Transaction Data Invalid Under 101

“Last week, the U.S. District Court for the Southern District of New York granted Block, Inc.’s Motion to Dismiss a complaint brought by AuthWallet, LLC against it for failure to state a claim. The district court found that the claims of AuthWallet’s patent were invalid because they claimed patent ineligible subject matter under 35 U.S.C. § 101.

AuthWallet’s U.S. Patent No. 9,292,852 relates to systems and methods for processing financial transaction data. Block provides online platforms, products, and services that facilitate financial transaction data. Specifically, Block offers mobile payment options that provide a means for customers to earn and redeem rewards for multiple vendors.”

Directors Daniel S. Block, William H. Milliken, Michael D. Specht, and Chandrika Vira were mentioned as Block, Inc.’s representation in the article “SDNY Finds Patent for Processing Financial Transaction Data Invalid Under 101,” published by IPWatchdog.