Innoviti sues Pine Labs over patent

Bengaluru: Payments solution provider Innoviti has sued point-of-sale (PoS) maker Pine Labs, which is valued at close to $1 billion, in a Bengaluru civil court, accusing the latter of patent infringement of its technology enabling Unified Payments Interface (UPI) transactions on PoS terminals.
The court has granted an ex-parte injunction to Innoviti’s plea asking Pine Labs to refrain from using the technology to enable PoS UPI transactions, said Innoviti founder & CEO Rajeev Agarwal.TOI has reviewed the copy of injunction order. Agarwal said Innoviti holds the patent of the technology, which enables PoS machines to accept UPI payments via QR codes. The matter will be heard next month now. “What Pine Labs was doing is simply copy our technology. Therefore, we went to court last week and the injunction order came yesterday,” Agarwal told TOI. According to him, Innoviti holds the patent till March 2037. An email sent to a Pine Labs spokesperson did not elicit any response on the matter.