New Payments Platform Australia (NPPA), Australia’s new real-time payments system is accusing Ripple of intellectual property infringement over the branding of Ripple’s ‘PayID’ payment standard.
More than 60 Australian banks currently use NPPA.
Operators of Australia’s interbank payments network ‘Pay ID’ had filed a suit with the Federal Court of Australia against Ripple Labs Inc. NPPA’s payment platform allows users to instantly send and receive money 24/7 using an email address or phone number.
Most crypto exchanges accept fiat via PayID across Australia. Ripple may well have been aware of the Australian PayID brand because of Independent Reserve and BTC Markets, two members of Ripple’s Open Payments Coalition, which use PayID.
Ripple filed for two ‘PayID’ trademarks with the US Patent and Trademark Office on June 17, 2020. NPPA had filed another application for the same trademark in Australia on July 24, 2020.