Major banks' Beem It runs into a new identity crisis
The branding problems that have plagued the launch of the Beem It instant payments platform this year appear to be worsening after Queensland-based super fund Sunsuper confirmed it was mounting legal opposition to the use of the trading name.In yet another twist in the branding woes of the payments startup, a subsidiary of Sunsuper known as Precision Administration Services Pty Ltd has enlisted Corrs Chambers Westgarth lawyers to have the trademark application for Beem It struck down by IP Australia.The move by Sunsuper, if successful, could scupper the payment company's efforts at building a new business identity and force its management and bank owners to undertake a branding makeover … once again.Beem It is the trading name of Digital Wallet Pty Ltd, which is owned by three of the country's major banks - CBA, Westpac and NAB.Records published by IP Australia show that the Sunsuper arm lodged a notice of intention to oppose registration of the "Beem It" trademark on 7 August.IP Australia has since issued a request for Sunsuper to submit evidence in support of its opposition by the end of this week.Banking Day yesterday approached Sunsuper's media unit with questions about the legal dispute, but a spokesperson refused to answer questions."It's not something we can comment on at this stage for reasons of confidentiality and because the matter is still being considered," the spokesperson said in an email.Sunsuper is seeking to protect the intellectual property of its digital payments service that trades under the name of "Beam Connect".Employers use the platform to make superannuation contributions to retirement savings accounts of staff.Beem It was launched by the three major banks in May with a promise to deliver real time payments for holders of Visa and Mastercard debit cards.The dispute with Sunsuper is the second challenge to Digital Wallet's branding this year after Banking Day revealed that another mobile payments company known as Beam Wallet had been operating in Australia for several years.Following negotiations with Beam Wallet earlier this year, the bank-owned Digital Wallet business agreed to withdraw one of the trademark applications it made to IP Australia.However, Serdar Nurmammedov, the managing director Beam Wallet, told Banking Day last week that his business continued to dispute the bank-owned company's use of the Beem It trading name.He said that Beam Wallet had received advice that it should oppose registration of the "Beem It" trademark.Nurmammedov said that staff at his Pyrmont office in Sydney had received many complaints from CBA customers who had inadvertently downloaded his company's mobile app instead of the Beem It app marketed by the banks.