Sofort GmbH has in October last year Lawsuit filed against Fintecsystems. The subsidiary of the Swedish payment provider Klarna and the Munich-based startup have now reached an out-of-court settlement.
The bone of contention between the two companies was a payment service offered by the Munich-based company called Sofortpay. Sofort GmbH offers a competing product called Sofortüberweisung and felt its rights were violated by the choice of name. However, a court battle has now been averted.
Fintecsystems and Sofort aim for “constructive cooperation”
Fintecsystems has now agreed to discontinue the use of the term "Sofortpay." Furthermore, the Munich-based startup will no longer use the terms "Sofort" or "Sofortüberweisung" for certain online payment services in the future. In return, Sofort GmbH intends to withdraw the legal action it has initiated. The two companies also intend to pursue a constructive collaboration in the future.
