The BharatPe Group and PhonePe Group have officially settled their prolonged legal disputes over the use of the trademark suffix "Pe."
The resolution, announced on Sunday, marks the conclusion of a protracted legal battle spanning five years and involving multiple court proceedings.
According to the joint announcement, all ongoing judicial proceedings related to the trademark disputes have been resolved with mutual agreement.
Both companies have withdrawn their oppositions against each other in the trademark registry, signalling a definitive end to the contentious issue.
Rajnish Kumar, Chairman of the Board at BharatPe, hailed the settlement as a "positive development for the industry." He commended the professionalism and maturity exhibited by the management teams of both organizations.
Kumar emphasised that the resolution will enable the companies to refocus their efforts and resources towards building robust digital payment ecosystems.
As part of the settlement, both entities have committed to fulfilling their obligations under the agreement, including compliance with directives from the Delhi and Bombay High Courts.
Sameer Nigam, founder and CEO of PhonePe, expressed satisfaction with the amicable resolution, highlighting its potential to foster growth within the Indian fintech sector.
Nigam stressed the importance of directing collective energy towards advancing the fintech industry for the benefit of all stakeholders.
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