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Ripple Sued Over “PayID” Branding

Ripple Sued Over “PayID” Branding

Ripple Labs Inc. is facing a lawsuit from New Payments Platform Australia (NPPA) over the former’s PayID branding. Ripple’s and NPPA’s PayID projects have identical names and are alleged to even have the same functionalities.

NPPA filed the legal suit with a federal court in Australia, stating that it has had the corresponding trademark PayID in the country since March 2017.

The court held an online interlocutory hearing on August 20, and a case management hearing was also conducted on the morning of August 26.

NPPA’s PayID enables customers of different banks to make and receive real-time payments. The company is owned by 13 banks, including major institutions ANZ, HSBC, Citi, and the Reserve Bank of Australia.

NPPA wrote regarding the lawsuit,

The aim of this action is to protect Australian consumers and businesses from potential losses or scams that could arise from using the same name, — particularly one that does not offer the same level of protection as the NPP’s PayID…

As per IP Australia, the country’s authority on intellectual property, NPPA filed for the PayID trademark in October 2017, but the application lapsed in April 2018 and the trademark was never registered. NPPA has filed another application for the same trademark on July 24, 2020, which is still pending.

Meanwhile, Ripple Labs filed for two PayID trademarks on June 17, 2020 with the United States Patent and Trademark Office (USPTO).

As compared to Ripple’s PayID, NPPA revealed that its PayID is subject to comprehensive governance, has the backing of the Australian banking sector, and has enhanced consumer protection framework, robust privacy, and security controls.

The document containing the lawsuit details is yet to be made public.

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