ACCC gives green light to Eftpos' merger with BPay and NPPA

Thursday 9 September 2021 12:57 CET | News

The Australian Competition and Consumer Commission (ACCC) has authorised the merger of Eftpos, BPAY and NPPA after accepting a court-enforceable undertaking offered by the parties.

Eftpos, BPay, and NPPA announced plans in December 2020 to amalgamate. Eftpos operates a network of payment terminals, Bpay is an electronic bill payments system, while NPPA is the company charged with the oversight of all the transactions moving through Australia's updated payments system, the NPP. Once due diligence is complete, the companies will emerge together as Australian Payments Plus or AP+.

After considering several potential impacts on competition, including concerns raised by industry participants about the impact of the amalgamation on Eftpos' services and least cost routing, company officials said the ACCC found at a high level that the services of the three companies did not compete closely.

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Keywords: merger, payments infrastructure, mobile payments
Categories: Payments & Commerce
Countries: Australia
This article is part of category

Payments & Commerce