NPP Australia Files Lawsuit Against Ripple Labs Over Potential PayID Dispute

By Sam Town August 25, 2020 In Australia, Cryptocurrency Law, Ripple

Australian industry-wide payment platform NPP, or the New Payments Platform, is currently in the process of lodging a lawsuit against international remittance focused cryptocurrency Ripple (XRP) over a potential trademark dispute. 

The New Payments Platform, launched in February 2018, is a collaborative effort between 13 of Australia’s biggest banks and financial institutions, connecting finance platforms through new infrastructure that allows for faster, more convenient banking.

New lawsuit information filed via the New South Wales Registry in the Federal Court reveals that the NPP filed a lawsuit on August 20 in relation to a trademark dispute — potentially over Ripple’s recent launch of the “PayID” system.

While the NPP’s PayID solution is focused solely on the Australian payments ecosystem, Ripple provides banks, payment providers, corporate entities, digital asset exchanges, and everyday users to send and receive money at far lower rates than traditional banking platforms. 


NPP PayID Solution Launched First

Ripple’s PayID platform focuses on simplifying the process of sending XRP — or any cryptocurrency — in addition to various cryptocurrencies, across multiple networks. The Ripple PayID system has been active since June 18, 2020, but doesn’t predate the New Payments Platform’s PayID system, which was launched in February 2018.

Ripple’s solution is focused on connecting individuals across disparate networks, opening up closed payment systems and providing a simple solution for any business that sends or receives money. While the Ripple PayID solution is arguably broader in scope than the Australian NPP’s PayID platform, the trademark issue presents a strong position for the latter party to argue a trademark dispute.

The first hearing for the NPP Australian lawsuit is scheduled for Wednesday, August 26.

Sam Town

Sam Town

Sam Town is a FinTech and Blockchain Journalist from Adelaide, Australia. I work with a broad spectrum of finance, technology, and blockchain businesses to deliver engaging, high-quality content across a range of topics. Areas of specialization include FinTech, blockchain, NeoBanks, crowdfunding, P2P lending, tax structuring & strategy, artificial intelligence, InsurTech, and finance IoT applications.

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