PayPal accuse Paytm of Infringement of Trade Marks Act 1994.
The American company – PayPal, a worldwide secure, online, payment system specialising in money transactions opposed to primitive methods of payment such as checks and cash payment has accused Paytm for committing plagiarism of its logo, in order to obtain an increase in revenue, as a consequence of taking advantage of the trading reputation of PayPal, though the use of similar branding and logo. This could potentially affect the reputation of PayPal, in addition to making its brand less distinctive.
Paytm was established in 2010 to increase the levels of cashless transactions particularly India. During the period of establishment, PayPal was a major payment instrument, suggesting the company were aware of PayPal and their branding. Implying that the use of an identical sign for the services was intentional.
The Indian Company was also accused by PayPal to be significantly gaining from the infringement of Trademark (copying of sign and branding design).
In addition to this, due to the Indian political party BJP attempting to eradicate the use of counterfeit money the PM (has believed encourage demonetization, as a result casing an increase in revenue for Paytm.
To conclude, the verdict upon whether Paytm will have to pay reparations is yet undecided, however they are currently in constant legal conflict among PayPal. Furthermore, many are to believe it is not long till Paytm are sued as they have believed to infringed the Trade Marks Act 1994.
By Manpreet Taak, a student at Cantell School