Fintech Firms BharatPe and PhonePe Settle Long-standing Legal Disputes Over Trademark ‘Pe’
In a significant development in the Indian fintech industry, BharatPe and PhonePe have announced the amicable settlement of all long-standing legal disputes regarding the usage of the trademark with the suffix ‘Pe’. This resolution comes after five years of intense legal battles across multiple courts.
The settlement will bring an end to all ongoing judicial proceedings, allowing both companies to move forward without any lingering legal issues. As part of the agreement, PhonePe and BharatPe have agreed to withdraw all oppositions against each other in the trademark registry, facilitating the registration of their respective marks. Additionally, both organizations will fulfill their obligations under the settlement agreement in relation to cases before the Delhi High Court and Bombay High Court.
Rajnish Kumar, chairman of the board at BharatPe, commended the maturity and professionalism displayed by both companies in resolving the disputes. He stated, “This is a positive development for the industry. I appreciate the maturity and professionalism shown by the management of both sides, working closely to resolve all outstanding legal issues.”
Similarly, Sameer Nigam, founder and CEO of PhonePe, expressed his optimism about the outcome of the settlement. He said, “This outcome will benefit both companies to move forward and focus our collective energy on growing the Indian fintech industry as a whole.”
The legal dispute between PhonePe and BharatPe began in 2019 when PhonePe accused BharatPe of illegally using the ‘Pe’ suffix in its app, both in English and Hindi. PhonePe claimed trademark rights over the name and sought an injunction order against BharatPe in a lawsuit. Another startup, BimaPe, now known as Verak, also faced similar legal challenges for using the ‘Pe’ suffix.
This settlement is a positive development for the Indian startup ecosystem, which has witnessed several out-of-court settlements in the past. Notable cases include PhonePe versus Indus OS, Khatabook versus Dukaan, Cult.fit versus Book Your Game, and Flipkart versus GOQii.
Overall, the resolution of the legal disputes between BharatPe and PhonePe is a step in the right direction for the Indian fintech industry, allowing both companies to focus on innovation and growth without the burden of prolonged legal battles.