BharatPe and PhonePe settle long-standing trademark disputes, ending legal battles and focusing on growing India’s fintech industry.
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BharatPe -PhonePe
BharatPe and PhonePe have reached an amicable resolution regarding their long-standing legal disputes over using the trademark suffix ‘Pe’.
The announcement, made on Sunday, May 26, marks the end of a contentious battle that has spanned several years and involved multiple court proceedings.
In a joint statement, the fintech giants declared, “BharatPe and PhonePe amicably settled all long-standing trademark disputes.”
This settlement is expected to halt all ongoing judicial proceedings, providing a clear path forward for both companies.
Legal Disputes Spanning Five Years
For the past five years, BharatPe and PhonePe have been entangled in legal battles in various courts.
The resolution of these disputes signifies a significant step towards stability and cooperation within the fintech industry.
The joint statement emphasized that “the settlement will put an end to all open judicial proceedings.”
Steps Towards Resolution
Both companies have already begun withdrawing all opposition against each other in the trademark registry, facilitating the registration of their respective trademarks.
This move is critical to the settlement agreement, including compliance with obligations concerning cases before the Delhi and Bombay High Courts.
Leadership Remarks on the Settlement
Rajnish Kumar, Chairman of the Board at BharatPe, praised the resolution, stating:Â
“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.”
Similarly, Sameer Nigam, Founder and CEO of PhonePe, expressed his satisfaction with the outcome.Â
“I am glad that we have reached an amicable resolution in this matter. This outcome will benefit both companies in moving forward and focusing our collective energy on growing the Indian fintech industry as a whole,” he said.
Looking Forward
Resolving this trademark dispute between BharatPe and PhonePe is a promising development for the Indian fintech sector.
By setting aside their differences and focusing on their core missions, both companies are poised to contribute significantly to the growth and innovation of digital payment solutions in India.
The cooperation between these leading fintech unicorns underscores the importance of collaboration and professionalism in resolving conflicts, ultimately benefiting the industry and its consumers.
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