New Beem It CEO keeps trademark fight under wraps
One of the big challenges facing Angela Clark - the new boss of instant payments provider Beem It - could be a comprehensive rebrand of the business.Queensland-based superannuation provider SunSuper is continuing to escalate its intellectual property fight against a trademark application for the Beem It moniker.The legal battle looms as a strategic irritation for Clark who was seconded by Commonwealth Bank last month to take the executive reins of the fledgling payments business from former CEO Mark Woods who resigned in August.SunSuper is looking to protect a digital payments business called "Beam Connect" that it operates through a subsidiary known as Precision Administration Services.It has hired lawyers from Corrs Chambers Westgarth to mount its case for Australia's intellectual property regulator - IP Australia - to reject the Beem It trademark application.Beem It is a high-profile joint venture owned by CBA, Westpac and NAB.The three major banks jointly operate the business through a subsidiary known as Digital Wallet Pty Ltd.In a press release announcing Clark's official appointment as CEO on Tuesday, there was no mention of the trademark dispute that imperils the identity of the Beem It business.Clark is a seasoned leader of digital businesses, but the legal dispute has the potential to severely disrupt her plans to expand the platform to include new functions such consumer-to-business payments.If SunSuper's opposition is successful the major banks will be forced to stump up more cash to support a complete brand makeover.While Clark's spruikers kept the branding controversy out of the sight of journalists captivated by press releases, the matter is likely to take up a fair chunk of her time as CEO in the next few months.IP Australia has given Digital Wallet until 27 October to submit evidence defending the case brought against it by the SunSuper subsidiary.But Clark gave no hint of the dispute yesterday, choosing to focus mostly on the benefits that the Beem It service was delivering to Australian debit card users."I believe that the best innovation and technology helps us to be more human, not less so," she said."Beem It has a customer-first vision for making everyday payments moments an enjoyable and seamless experience."This lets our users focus on the experience itself, rather than the payment." A Sunsuper spokesperson declined to answer questions put to the company by Banking Day.