Fiserv payment subsidiaries CheckFree and CashEdge have filed a patent infringement lawsuit against rival FIS and its Metavante unit.
The suit alleges that some FIS technology, including its Payment Manager products - which process inter-bank account-to-account fund transfers, payment instructions, and provide electronic biller notifications - infringe Fiserv patents.
In a statement, Fiserv says: "Fiserv is a leader in providing innovative and complex technology solutions and has devoted significant resources developing and maintaining an extensive intellectual property portfolio....We have a responsibility to protect our intellectual property from further infringement and exploitation."
FIS has yet to comment on the suit.
Fiserv acquired CheckFree for around $4.4 billion in 2007 and CashEdge for $465 million last year. FIS took over Metavante in 2009, paying about $3 billion.