BharatPe, PhonePe Resolve Trademark Dispute Over 'Pe' Suffix Amicably
Both fintech unicorns announced that the settlement will effectively conclude all ongoing judicial proceedings
The BharatPe Group and PhonePe Group have mutually resolved all longstanding legal disputes related to the use of the 'Pe' trademark suffix, marking an end to their prolonged legal battles spanning multiple courts over the past five years. Both fintech unicorns announced that the settlement will effectively conclude all ongoing judicial proceedings.
In line with the settlement, the companies have withdrawn all oppositions against each other in the trademark registry, facilitating the registration of their respective trademarks. Rajnish Kumar, Chairman of the Board at BharatPe, praised the decision, highlighting its positive impact on the industry and commending the professionalism displayed by both management teams in resolving legal matters to redirect their focus towards building robust digital payment ecosystems.
Additionally, the companies will undertake necessary actions to fulfill their obligations under the settlement agreement concerning cases before the Delhi High Court and Bombay High Court. Sameer Nigam, Founder and CEO of PhonePe, expressed satisfaction with the amicable resolution, foreseeing its benefits in allowing both companies to advance and concentrate their efforts on nurturing the growth of the Indian fintech sector.
