DBS Bank has lost a court tussle with an Irish firm over a payment system that allows tourists to choose which currency they are billed in. It will have to pay damages to Main-Line Corporate Holding after breaching its patent on the technology. Main-Line’s lawyer Wong Siew Hong pointed out that DBS had been using an automatic currency detection service known as Monex. This was similar to Main-Line’s technology, which is used in hotels and up-market stores.
Read the report in The Straits Times, 25 Jul 2012, page B8.