PhonePe, a digital payments company backed by Walmart, and BharatPe, a fintech startup based in New Delhi, have resolved a five-year legal battle over the use of 'Pe' as a suffix in their brand names. The companies released a joint statement on Sunday, announcing the withdrawal of all trademark oppositions against each other, allowing for the registration of their respective marks.
Rajnish Kumar, chairman of BharatPe Board, commented on the resolution, stating, "This is a positive development for the industry. I appreciate the maturity and professionalism shown by the management of both sides, working closely to resolve all outstanding legal issues and moving ahead to focus their energy and resources in building robust digital payment ecosystems.''
According to an ET report, the dispute originated in 2018 when PhonePe sent a legal notice to BharatPe, demanding that the latter cease using 'Pe' in Devanagari script in their brand name. PhonePe escalated the matter in 2019 by filing a plea in the Delhi High Court, seeking an injunction against BharatPe's use of the 'Pe' suffix.
Sameer Nigam, founder and CEO of PhonePe, expressed his satisfaction with the resolution, saying, "I am glad that we have reached an amicable resolution in this matter. This outcome will benefit both companies to move forward and focus our collective energy on growing the Indian fintech industry as a whole."
In 2021, PhonePe also filed a copyright infringement plea against BharatPe's holding company Resilient Innovations in the Bombay High Court for using the suffix in their Buy Now Pay Later (BNPL) offering, PostPe.
However, the court dismissed this plea. At the time of the dispute, Ashneer Grover, who is no longer involved with the company's daily operations, was leading BharatPe.
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