PayPal files complaint against Paytm for stealing logo
Global digital payment services company, PayPal has filed a complaint with the Indian Trademark office opposing Paytm's trademark. In the complaint it has accused Paytm of using a logo which it said was “deceptively and confusingly similar” to its own.
It further said that “the use of the same (PayPal trademark) would without due cause take unfair advantage of and be detrimental to the distinctive character and repute of the earlier trade mark (PayPal) and is liable to be refused registration.”
PayPal accused Paytm of using identical colours and colour scheme to take advantage of the reputation that PayPal has built up into this combination in connection with its popular services.
PayPal said in the notice that it has been using the trademark across several countries since 1999. Paytm's logo is still yet to be registered fully and is in the last stages.
What is more is that PayPal register this complaint on the last day of the statutory four-month period from which the logo was advertised. According to the trademark registration process in India, a company needs to wait for four months after the logo is advertised before it is registered. During this period anyone can raise objections or oppose it.
This comes as a big hit to the mobile wallet company, Paytm, which has seen huge traction and user growth since the government announcement to demonetise the old Rs 500 and Rs 1,000 notes. In fact, it started a large scale advertising campaign to push its service just a day after Prime Minister Narendra Modi made the announcement. It also received a lot a criticism on social media for some its ads too.