Five years of legal battle between PhonePe and BharatPe ended, both settle with mutual consent

The long legal battle between two fintech unicorns – BharatPe Group and PhonePe Group over the trademark of the word ‘Pay’ has finally ended. Both the companies said in a joint statement that they had resolved the dispute by mutual consent.

Regarding the use of Pay, BharatPe and PhonePe have been engaged in a protracted legal battle. Over the past five years, numerous courts have heard this case. According to both businesses, all legal issues have been resolved jointly as of the current agreement.

Additionally, BharatPe and PhonePe have chosen to drop their lawsuits against one another filed with the trademark registry. They can proceed with their individual trademark registrations with each other's assistance.

Rajneesh Kumar, Chairman of the Board of BharatPe, said, 'This is very good news for our industry. I appreciate the maturity and professionalism shown by the management teams from both sides. Now we will be able to devote all our energy and resources to improving the digital payment ecosystem.

Sameer Nigam, Founder and CEO of PhonePe, said, "I am happy that we resolved this matter with mutual consent in an amicable environment. This result will help both companies move forward and jointly advance the Indian fintech industry."

Now both the organizations will take necessary steps to reach a settlement in all the matters before the Delhi High Court and Bombay High Court. PhonePe provides digital payment and finance services. It is accepted as a payment medium.

At the same time, BharatPe is a fintech company that provides QR code facilities to small merchants. It is used for UPI payments, small business financing and swipe machines to accept cards.