Paypal has claimed that Paytm logo is “similar to Paytm”.
Paypal: Paypal Is an (California) American based online payment copany.This company is one of the world largest online payment company founded in 1998.Operating world wide network for online payments.That supports online money transfer that brings financial services adopt easy.This is an alternative for traditional paper methods like Cheks, Demand drafts and Money orders and its provide credit cards and payment systems.
Paytm:Paytm is an Indian based e-commerce website.Headquarters in Noida; India.Paytm was founded and incubated by one97 communications in 2010.It’s basically a prepaid mobile recharge company launched in 2010 and add to the industry of Fine Tech in India.
In 2015 company receives a official license from Reserve Bank of India for starting India’s first payment bank.The bank intends to provide for existing customers for offering new services,including debit cards,savings accounts and online banking and transfers to enable cashless Economy.
Paytm copied the Paypal logo: Paypal accused againest India’s biggest online startup Paytm
Paypal world’s largest payment firm belives that India’s biggest digital payment startup has stolen from its logo.
In a complaint (PDF) filed in Indian trademark office, American based Paypal company accused Paytm that using logo “deceptively and cofusingly similar” to its own, the “Alibaba group”investor in paytm had slavishly adopted the two-tone blue colour scheme” of the trademark logo.
Not only Paytm beore that most of the Indian companies, like ITC and McDowell, also have in the past been accused of copying trademark by rival like cadburry and Glenfiddich.
“There are similar causes getting confusion…….There is no reasons for the applicant(Paytm) to have adopted the same identical colour schemes and themes other than to take advantage of the reputation the opponent(Paypal).It has built only tthis combination in connecting popural services.
But Pay tm not responding to comment on the alligations.
It said in the notice, Paytm’s logo is still under the process of getting registered.since 1999 Paypal has been using its trademark across the world.
In India, as a part of trademark registration process, a company needs to advertise (like paper statement) its logo or symbol and wait for some time period of four months, during this period anyone can raise objections or oppose it.
On July 18, Pay tm had advertise its logo and Pay pal complaints filed on the last day of the during this four months period.
The complaint also came as Paytm saw a huge upticks in its user base.