PayCoin sounds a little close to PayPal in "lexical construction", didn't a bunch of companies get into trouble for using "iSomething" in the past couple of years? I'm probably completely off track, not sure how TM works, I'm guessing the name was vetted by lawyers not to come in conflict with others in the same space having a similar name that could be mislead.
I'd say that GAW is in a gray area:
http://en.wikipedia.org/wiki/Confusing_similarityThey're both a financial sector product, and the PayCoin logo appears to have a slight italics; like the official PayPal logo.
However, I doubt that PayPal will do anything unless PayCoin gains any kind of traction.