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PayPal Files Complaint Against Paytm, Read Why[/caption]
Since the demonetisation move was announced by Prime Minister Narendra Modi, the popularity of Paytm has grown multi-fold and the Paytm logo has become a common one. International payment manager PayPal has filed a complaint against Paytm with the local trademark office, claiming that the Paytm logo is "deceptively and confusingly similar to PayPal" and has a similar colour scheme.
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As per procedure, Paytm had advertised its trademark registration in July, which allows any competitor to file a complaint within 4 months of the trademark application of the concerned company. Interestingly, PayPal filed the complaint on the last day before the Paytm trademark would have finalised.
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According to reports, PayPal has alleged that Paytm has copied its colour scheme by using first syllable in dark blue, with second syllable in light blue colour and that the both logos are of similar length. PayPal also stated that since both companies have the same first word of 'Pay' there is likely to be confusion for customers.