An executive with PSCU Financial Services said the CUSO will continue with its plans to offer its CardLock service to member credit unions despite the claims of a U.K. firm that it holds the patent on the technology.
Steve Ruwe, chief risk officer for PSCU, said the CUSO had conducted due diligence on the patent question and that an outside law firm specializing in patents had not raised any concerns. He said the firm will move forward with the service as the patent question will eventually be resolved.
An executive with CardSwitch Technology Ltd,, a firm headquartered in the United Kingdom, sent executives and e-mail on Aug. 19 suggesting that his firm held a patent on the technology PSCU used in the CardLock service.
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