Loading...

Ripple dragged to court in Australia over the PayID trademark

payID trademark

Most read

Loading Most Ready posts..

TL;DR

Ripple is set to spend the next few months arguing a court case after it was slammed with a PayID trademark infringement lawsuit. The National Payments Platform Australia (NPPA) has decided to sue Ripple following the use of the PayID trademark by the digital assets outfit. 

According to the NPPA, Ripple’s infringement on their brand came after Ripple announced that it had developed a feature that will offer  PayID services to all its Open Payments Coalition (OPC) clients. According to Rohan Pierce, a tech journalist, the lawsuit was filed by the NPPA last week at a New South Wales court.

Ripple uses the PayID trademark that belongs to NPPA

According to records, the NPPA is owned by a list of banks around Australia and facilitates remittance between customers and the banks. The banks were said to have kick-started the PayID trademark in 2018 after the brand’s launch the same year. 

The firm also said they spent around 3.3 million Australian dollars to push the advertisement campaign. Presently, a host of banks around Australia have been using the PayID platform since its inception in 2018. To make sure payments are thoroughly processed and completed, the platform uses important client details such as emails and Australian business numbers.

Ripple to go to court over PayID trademark infringement

According to the firms, the PayID trademark is Australian and has been in use since its inception in 2018. Presently, the PayID platform boasts of nothing less than 5 million customers who have signed up around Australia. 

With Ripple offering its OPC Clients a PayID branded services in Australia, the PayID trademark owners have decided to sue them to court over infringement on their trademark. According to the documents filed in court, Adrian Lovney, the PayID platform CEO, said he recently got wind of the information about Ripples PayID services late last month.

Share link:

Kamsi King

King Kamsi is a fintech and digital currency writer and enthusiast. He is keenly interested in blockchain and cryptocurrency and their global adoption. When not busy with writing, he can be found hobnobbing in forums with the best minds in crypto, both developers and startup founders.

Stay on top of crypto news, get daily updates in your inbox

Related News

SEC
Cryptopolitan
Subscribe to CryptoPolitan