Indian Post has sent a notice to digital payments company Paytm, asking them to stop using the term 'postcard' for one of its newly launched products Paytm Postcards.
The digital wallet firm had recently introduced Paytm Postcards, a digital option to gift money to someone on festive occasions, launced during Rakhsa Bandhan this year. As per the report by TOI, the notice sent by the Department of Posts, said that only India Post has the sole right to use the word 'postcard' under the IPO Act rules and regulations.
At the time of the rollout, a company statement said, “The country’s gifting industry is pegged at $40-42 billion, with several players reporting 20-40% annual growth. Paytm wants to establish itself in personal gifting by offering Paytm Postcards.”
RELATED
...
