A dispute between an Irish financial software solutions company and online payment firm Revolut over the use of an identical or similar payroll trademark has been resolved, the Commercial Court has heard.
Ardbook Ltd and its parent, Relate Software Developments, sued Revolut claiming it was infringing its 'PayDay' payroll system which provides payroll services to some 4,000 customers, including small to medium-sized businesses, schools, credit unions, semi-state bodies and sporting organisations.
The PayDay trademark is held in the name of an associate company, SurfAccounts Ltd, under Irish and EU registrations.
Revolut Ltd is a UK-born startup and financial app which is licensed as a bank in Lithuania and operates as a bank in 10 central European countries. Revolut launched its PayDay sign in the UK last August and in Ireland in September.
The case was admitted to the Commercial Court last December.
On Monday, Michael Howard SC, for Ardbrook, told Mr Justice Denis McDonald the matter had been settled.
The judge agreed to strike out the proceedings with liberty to re-enter.
