PayPal, the global payments firm, has filed a trademark infringement complaint with the Indian Trademark office against India’s largest mobile wallet company, Paytm, on using similar colours in its logo.
The complaint stated that Paytm had no reason to do so if it did not want to take advantage of PayPal’s global reputation and use it to grow its user base.
“(Paytm) slavishly adopted the two-tone blue colour scheme of PayPal in its entirety. While the first syllable in each mark is in dark blue colour, the second syllable adopts a light blue colour… Further, both marks begin with the term ‘PAY’ which consumers tend to remember more than the second syllable, with the marks being of similar length” PayPal states in its notice.
PayPal’s move to strike down on Paytm comes at a time when the Indian payments solution company is adding more than half a million new users every day after demonetization. The trademark infringement complaint can reduce Paytm’s growth momentum.
PayPal has been using its trademark since 1999, and has appealed before the Indian trademark Office to refuse Paytm’s application for trademark registration.
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