- New payment platform Australia (NPPA) has allegedly sent a lawsuit off against ripple.
- For those that don’t know, the NPPA is a consortium which includes every major bank in Australia.
New payment platform Australia (NPPA) has allegedly sent a lawsuit off against ripple. For those that don’t know, the NPPA is a consortium which includes every major bank in Australia. Court documents are yet to be made public but it is believed that the lawsuit claims that intellectual property infringement in regards to the branding of the ‘PayID’ payment standard from ripple is the main topic.
The tech journalist, Rohan Pearce reported on the lawsuit earlier this week on the 24th of August. Screenshots were shared that suggested that the operators of Australia’s interbank payments network, NPP Australia Ltd had filed the lawsuit with the federal court of Australia against the San Francisco-based company.
For those that don’t know, the NPPA platform is used by more than 60 major banks all across Australia and can give users the ability to send or receive money at any time of the day. This can be done using an email address or a phone number.
There are many platforms for Cryptocurrency all across the nation that accept Fiat through PayID including independent reserve. It has been suggested though that Ripple may very well have been aware of the PayID branding.
This whole fiasco allegedly comes down to spacing. Trademark rights for ‘Pay ID’ have been secured by NPPA in March 2017. In October the same year, they filed for the trademark ‘PayID’ but by April the next year, no trademark was eventually registered.
Two trademarks for ‘PayID’ were filed by the San Francisco company with the United States patent and trademark office earlier this year on the 17th of June. In July, NPPA sent off for another application on the same trademark in Australia. It will be interesting to see how this matter resolved itself.