According to a recent report from Macrotrends, global payments revenue for the quarter ending June 30, 2023, was $2.452B, a 7.52% increase year-over-year. Payments services play an increasingly important role in our economy. They enable seamless, near real-time payments between customers and retailers, and companies and their vendors. Fintech continues to innovate, creating new solutions that improve user experiences, enhancing payment systems and streamlining financial processes. In this dynamic environment, patent protection plays a crucial role in safeguarding these innovative technologies.
As Square, now Block, did two years ago; Worldline is looking to reduce patent risk, and reinforce its commitment to open source software, by joining Open Invention Network. With more than one million business customers, Worldline is a payment services leader, leveraging open source to provision some of the most advanced payments services available. It generated more than $4.4 billion euros in revenue last year.
“We continuously look for ways to integrate the best technologies in our payment solutions, which helps to deliver capabilities and services that our merchant and banks customers value and trust. We provide our customers safer and faster digital transaction services, and open source is a significant innovation driver in these offerings,” said Christophe Duquenne, Group Chief Technology & Operations Officer at Worldline. “We are pleased to join the Open Invention Network and support its role in protecting open source software.”
Funded by Google, IBM, NEC, Philips, Sony, SUSE and Toyota, Open Invention Network has more than 3,800 community members. It is the largest patent non-aggression community in history and supports freedom. It has created a patent “no fly zone” around Linux and other open source technologies, hindering patent aggressors.
“Open source technologies have been a key driver in advancements in many industries, including financial services and fintech,” said Keith Bergelt, CEO of Open Invention Network. “As a global leader in payment services, and a trusted technology partner for leading merchants and banks, we are pleased that Worldline is committed to patent non-aggression in core Linux and adjacent open source technologies.”
As a community, Open Invention Network members practice patent non-aggression in core Linux and adjacent open source technologies by cross-licensing Linux System patents to one another on a royalty-free basis.
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