United States-based e-wallet company, PayPal has filed a trademark infringement complaint with the Indian Trademark office against Chinese-backed Indian e-commerce company Paytm for using similar colours in its logo.
According to the reports, PayPal argued that the Indian mobile wallet had no reason to use similar colours if it did not want to take advantage of PayPal’s global reputation and use it to increase its user base. The complaint has been filed with the Indian Trademark office in November. PayPal has registered five different logos with the Indian Trademark registrar and has right to use any one of them.
The company has been using the logo that it claims to be similar to that of PayPal since 2007.
Several Indian companies like ITC and McDowell, have in the past been accused of copying trademarks by rivals like Cadbury and Glenfiddich.
In a letter to the registrar of Trademarks’, PayPal has said that the use of Paytm’s logo is likely to cause the confusion among the public as it has two-tone blue colour scheme.
Paytm has got an RBI licence to operate a payments bank and has been the biggest gainer of demonetisation with its user-base expanding by 14 million from the past one month since Prime Minister Narendra Modi’s announcement. It also has about 100 million active users on its wallet. PayPal, on the other hand has not yet launched its full suite of services in India.
Last week, Paytm alleged that it had been cheated of Rs 6.15 lakh by 48 customers. CBI has registered a complaint in the case and will now probe the fraud.