FinTech start-up, Kerv Wearables, is set to change its name following the conclusion of a trademark dispute.
The rebrand is the result of a challenge to Kerv Wearables’ trademark registration by an undisclosed company with a similar name, the result of which means it can no longer complete the process of registering Kerv as a trademark.
Kerv Wearables launched Kerv Ring, the world’s first Mastercard® contactless payment ring, in March 2017, after receiving Mastercard’s Letter of Approval for the product as an M/Chip Advance payment and data storage device in January 2017.
Kerv Ring fuses function with fashion, seamlessly combining groundbreaking proprietary NFC payments technology with sleek and unobtrusive jewellery. Kerv Ring removes the need to carry coins, cash and cards and can be used to make transactions up to £30 anywhere that accepts Mastercard contactless payments. Kerv Ring can also be used on London’s Tube and buses, and any other public transport network that accepts contactless payments at point of entry.
Rather than seeing the rebrand as a set-back, Kerv Wearables is seeing it as a challenge – and an opportunity. “Being first at anything always brings challenges, and bringing the world's first contactless payment ring to market has been no different,” says founder, Phil Campbell. “We've been operational with a live commercial product for a year now and we've achieved – and learned – a lot in that time.”
Phil continues: “This isn't just a name change for us, it's also an opportunity to make improvements, and introduce new products and customer benefits. We're at the point now where we're emerging from our infancy and growing as a company and, fortunately, it feels like exactly the right time to reflect this with a new identity – one that can carry us into the future.”
Kerv Wearables would like to reassure its customers that the name change will have no impact on its service in any way, and that they will be able to use Kerv Ring as usual, anywhere in the world that accepts Mastercard contactless payments.
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