Ripple is being indicted by New Payments Platform Australia (NPPA), a consortium that includes all of the country’s major banks. Although the court documents have not yet been published, The lawsuit is believed to constitute an infringement of intellectual property related to Ripple’s PayID payment system.
The demand was informed from the technical journalist Rohan Pearce on August 24th who shared a screenshot of it NPP Australia Limited, the operator of the Australian interbank payments network “Pay ID”, filed a lawsuit against Ripple Labs Inc. with the Federal Court of Australia.
NPPA’s payment platform is currently used by more than 60 Australian banks Users can instantly send and receive money 24 hours a day, 7 days a week using an email address or phone number. Most of the crypto exchanges in the country accept fiat money through PayIDincluding the Independent Reserve and BTC markets, two members of Ripple’s Open Payments Coalition, This suggests that Ripple may have known the Australian brand PayID.
NPP Australia – the operator of the New Payments Platform – appears to be suing Ripple Labs in an IP case pic.twitter.com/JLfWsySzI8
– Rohan Pearce (@rohan_p) August 24, 2020
Everything seems to be reduced to space: NPPA secured trademark rights for ‘Pay ID’ (with a space) in March 2017 in addition to the brand’s requirement for ‘PayID’ (no space) in October 2017. Indeed Registration for ‘PayID’ expired in April 2018 and no trademark was registered.
NPPA is mutually owned by 13 banksThese include the most important institutes ANZ, HSBC, Citi and the Reserve Bank of Australia.
Ripple Labs filed two “PayID” trademarks with the US Patent and Trademark Office on June 17, 2020. NPPA filed another application for the same trademark in Australia on July 24, 2020.
An online preliminary hearing was held by the court on August 20, and a hearing to deal with the case was held on the morning of August 26.
Ripple introduced PayID in June when the company formed the Open Payments coalitionusing PayID as a means of improving interoperability among the coalition’s 40+ members, both corporate and nonprofit.
Ripple described PayID as a way to break through the multitude of isolated payment networks around the worldand stated that PayID would make transferring funds as easy as sending an email or text message.
Cointelegraph reached out to members of the PayID alliance of Ripple, Independent Reserve and BTC Markets to comment on the matter. The Independent Reserve told Cointelegraph that it has no comment on the case while BTC Markets has not yet responded at press time.