Who said Financial Service Patents are Dead?

The PTAB recently declined to institute a Covered Business Method (CBM) review over a modified ATM patent, holding the process for delivering money to be patent-eligible despite the Petitioner’s arguments to the contrary.

 

In the case of NRT Technology Corp. v. Everi Payments, Inc., CBM2015-00167 (January 22, 2016 Decision Denying Institution), the PTAB held Everi’s patent claims to be patent-eligible. The claims are directed to a method for providing cash through a modified ATM machine. The machine receives a PIN number of an ATM card, and if the user is over their daily withdrawal limit, the user may instead obtain money via a point-of-sale network. The ATM will then notify a nearby money location (such as “cash windows or ‘cages’ within casinos or racetracks, front desks or concierges of hotels, ticket booths, will-call windows or customer service windows at stadiums, colosseums, theaters, stores, or amusement parks” and the user can then collect their cash at the money location. 

 

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