BharatPe and PhonePe Settle Trademark Dispute: A Positive Step Forward
May 28, 2024
In a significant development, BharatPe Group and PhonePe Group have reached an amicable settlement to put an end to their five-year-long legal battle over the use of the trademark with the suffix ‘Pe’.
Here are the key points:
- Background:
- For the past five years, these fintech unicorns have been embroiled in legal disputes across multiple courts regarding the use of the ‘Pe’ suffix in their brand names.
- PhonePe had previously issued a cease and desist notice to BharatPe, directing them to stop using the brand name “BharatPe” with ‘Pe’ written in Devanagari script.
- Settlement Details:
- The companies have amicably settled all their disputes related to the trademark ‘Pe’.
- As part of the settlement, they have withdrawn all opposition against each other in the trademark registry.
- This move enables both companies to proceed with registering their respective trademarks without any hindrance.
- Positive Impact:
- Rajnish Kumar, Chairman of the Board at BharatPe, praised the decision, emphasizing the maturity and professionalism shown by both management teams.
- The settlement allows them to focus their energy and resources on building robust digital payment ecosystems.
- Next Steps:
- The companies will comply with the obligations under the settlement agreement in respect of all cases before the Delhi High Court and Bombay High Court.
- Industry Implications:
- Sameer Nigam, Founder and CEO of PhonePe, expressed satisfaction with the resolution, highlighting that it benefits both companies and contributes to the growth of the Indian fintech industry.
In conclusion, this settlement marks a positive step forward for the industry, and it reflects the willingness of these companies to resolve their differences and collaborate for mutual benefit. With legal hurdles now behind them, BharatPe and PhonePe can continue their journey in the competitive fintech landscape.
