Paypal has claimed that Paytm logo is “similar to Paytm.”
Paypal: Paypal Is a (California) American based online payment company.This company is one of the world largest online payment company founded in 1998. Operating worldwide network for online transactions. That supports online money transfer that brings financial services adapt easy.it is an alternative to 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 a prepaid mobile recharge company launched in 2010 and add to the industry of Fine Tech in India.
In 2015 company receives an 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 against India’s most significant online start-up Paytm
Paypal world’s most substantial payment firm believes that India’s most prominent 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 confusingly similar” to its own, the “Alibaba group”investor in paytm had slavishly adopted the two-tone blue color scheme” of the trademark logo.
Not only Paytm before that most of the Indian companies, like ITC and McDowell, also have in the past been accused of copying trademark by the rival like Cadbury and Glenfiddich.
“There are similar causes getting confusion…….There are no reasons for the applicant(Paytm) to have adopted the identical color schemes and themes other than to take advantage of the reputation the opponent(Paypal).It has built only this combination in connecting popular services.
But Paytm not responding to comment on the allegations.
It said in the notice, Paytm’s logo is still in 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 a paper statement) its logo or symbol and wait for some period of four months, during this time anyone can raise objections or oppose it.
On July 18, Paytm had advertised 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 significant upticks in its user base.