Indian digital payment company Paytm has been summoned by government-operated India Post to drop the word 'postcard', according to The Times of India report.
According to the notice, which was sent by the Department of Posts to Paytm founder and CEO Vijay Shekhar Sharma, India Post currently has the exclusive right to use the word “postcard”, as per IPO Act rules and regulations.
Earlier this month, on Raksha Bandhan, Paytm rolled out Paytm Postcards, a digital version of gifting money that can be customized with messages based on the occasion and sent instantly to Paytm users across India.
In a blog post, it said: "Given that millions living away from family and friends use our instant money transfer facility to send money to their loved ones during festivals, we wanted to enhance this experience by enabling them to add a personal touch to their gift money."
India's answer to Whatsapp, Hike too unveiled a new Blue Packets gifting initiative. The initiatives by both Paytm and Hike are similar to the Chinese tradition of gifting hongbao - red envelopes filled with money at Chinese New Year. Chinese social media giant WeChat created virtual red envelopes for the last festival with users exchanging 14.2 billion red envelopes.
Earlier, Paytm Gold introduced cashback and currently Paytm mall's Great Cashback sale is ongoing.