PhonePe and BharatPe, two prominent fintech firms, made headlines on Sunday as they put an end to their long-standing legal battles over the use of the trademark suffix ‘Pe’ in their brand names.
After enduring five years of legal disputes across various courts, both companies have reached a settlement. They have agreed to withdraw all opposition against each other in the Trade Marks Registry, paving the way for the registration of their respective trademarks.
In a joint statement, the companies expressed their commitment to complying with the terms of the settlement agreement, including resolving all cases before the Delhi High Court and Bombay High Court.
The feud between PhonePe and BharatPe escalated in June 2021 when they entered a full trial over the use of the term ‘Pe,’ which holds significance as it is pronounced ‘pay’ and translates to ‘on’ in Hindi. PhonePe initiated legal action against BharatPe, asserting trademark rights over the suffix.
Later that year, PhonePe sought an injunction from the Bombay High Court to prevent BharatPe’s subsidiary, PostPe, from allegedly misusing PhonePe’s registered trademarks. Concurrently, BharatPe filed petitions before the Delhi High Court seeking cancellation of some of PhonePe’s registered trademarks.
Rajnish Kumar, chairman of BharatPe, commended the professionalism and maturity exhibited by both companies in resolving their legal disputes. He emphasised the importance of focusing on building robust digital payment ecosystems moving forward.
Similarly, Sameer Nigam, founder and CEO of PhonePe, expressed satisfaction with the amicable resolution, highlighting its benefits for both companies. He emphasised the significance of directing their collective efforts toward fostering growth in the Indian fintech industry.
The settlement between PhonePe and BharatPe marks a significant milestone, allowing both companies to shift their focus from legal battles to driving innovation and expansion in the dynamic fintech landscape.
