TEXARKANA, Ark. (Legal Newsline) —The developers of mobile wallets and other mobile payment tech solutions claims Walmart used its intellectual property to develop Walmart Pay.
Fintiv Inc., filed a complaint May 19 in Arkansas' Miller County Circuit Court against Walmart Inc., and Merchant Customer Exchange LLC alleging misappropriation of trade secrets and other claims.
Fintiv alleges in its complaint that it began exploring the concept of mobile payments with Walmart in 2000 and in 2008, entered into a non-disclosure agreement with Walmart in 2008. Fintiv claims that over the course of the business relationship with Walmart, it invested tens of millions of dollars in research and development for mobile payment technology while Walmart was working with a different mobile wallet company that they chose to eventually hire.
Fintiv further claims that Walmart launched Walmart Pay, which utilizes Fintiv's confidential intellectual property and that Walmart never partnered with it but instead misappropriated its trade secrets to make millions on Walmart Pay.
Fintiv seeks monetary relief, interest, trial by jury and all other just relief. It is represented by Jonathan Waldrop and Marcus Barber of Kasowitz Benson Torres LLP in Redwood Shores, California; Geoffrey Culbertson and Kelly Tidwell of Patton, Tidwell & Culbertson LLP in Texarkana, Texas; and Sara Wolfe of Kasowitz Benson Torres LLP in Houston.
Miller County Circuit Court case number 46CV-23-235