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Fintech unicorns BharatPe Group and PhonePe resolve all legal disputes over trademark suffix 'Pe'
Photo Courtesy: Pixabay

Fintech unicorns BharatPe Group and PhonePe resolve all legal disputes over trademark suffix 'Pe'

| @indiablooms | 26 May 2024, 08:29 pm

Mumbai: Fintech unicorns BharatPe Group and PhonePe Group have reached a mutually agreeable resolution for all long standing legal disputes in connection with the use of the trademark suffix 'Pe', the companies said in a joint statement, according to media reports.

The two fintech companies had been involved in disputes for a long time with sub-judice cases in multiple courts, in the last five years.

The settlement will put an end to all open judicial proceedings, the statement said.

“BharatPe and PhonePe amicably settled all long-standing trademark disputes,” the statement said.

As a next step, parties have already taken steps to withdraw all opposition against each other in the trademark registry, which will help them to proceed with the registration of their respective trademarks, the statement said.

“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,” BharatPe, Chairman of the Board, Rajnish Kumar said.

Both organizations will take further steps as necessary to fulfill their obligations under the settlement agreement regarding all cases before the Delhi High Court and the Bombay High Court.

“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,” PhonePe, Founder and CEO, Sameer Nigam said.

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