NPP Australia Limited Sued Ripple Labs For Its Use of ‘PayID’ Branding
August 26, 2020 10:44 am
Ripple Labs is facing a lawsuit over its use of ‘PayID’ branding from New Payments Platform Australia (NPPA), a consortium that covers every significant bank in Australia.
However, the court documents are yet to have been made public, it is considered the suit claims intellectual property violation concerning the branding of Ripple’s ‘PayID’ payment standard.
The technology journalist Rohan Pearce reported the lawsuit on August 24, also shared a screenshot showing that the operators of Australia’s interbank payments network ‘Pay ID’, NPP Australia Limited had filed a suit with the Federal Court of Australia against Ripple Labs Inc.
Including Independent Reserve and BTC Markets, most cryptocurrency exchanges in the country accept fiat by PayID. Two members of Ripple’s Open Payments Coalition, suggesting Ripple may well have been aware of the Australian PayID brand. It appears to come down to spacing: NPPA secured the trademark rights for ‘Pay ID’ (with a space) in March 2017, in addition to filing for the trademark for ‘PayID’ (without a space) in October 2017. Though in April 2018, the application for ‘PayID’ lapsed and no trademark was registered.
The NPPA is mutually controlled by 13 banks, including major institutions ANZ, HSBC, Citi, and the Reserve Bank of Australia. On June 17, 2020, Ripple Labs registered for two ‘PayID’ trademarks with the United States Patent and Trademark Office. NPPA filed another application for the same trademark in Australia on July 24, 2020.
On Aug. 20, an online interlocutory hearing was held by the court and a case management hearing took place on the morning of August 26th. Ripple uncovered PayID in June when the firm launched the Open Payments coalition, with PayID slated as a means to enhance interoperability between the more than 40 corporate and non-profit coalition members.
Affirming that the PayID would make transferring funds as easy as sending an email or text message, Ripple described PayID as breaking down the myriad of siloed payment networks globally.