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Charles Schwab, Wayfair New Targets of Credit Card Patent Suits
Wayfair LLC and Charles Schwab & Co. are among the latest high-profile companies to face patent infringement lawsuits related to contactless credit card technology. Induction Devices LLC filed separate complaints against them, along with Truist Bank and Costco Wholesale Corp., alleging infringement of patents concerning circuits and memory for high-frequency identification technology. These new lawsuits add to 23 other similar cases Induction Devices has filed since August 2025 against major companies like Dick’s Sporting Goods Inc., Lowe’s Cos., and JPMorgan Chase.