23 August 2017
Find out more

Commission approves AIB/First Data joint venture

11 January 2008  |  8259 views  |  0 EU building, Brussels

The European Commission has given the go-ahead for the creation of a payment cards joint venture between Allied Irish Banks and First Data.

The joint venture will provide services relating to the use and acceptance of payment cards, primarily in Ireland but also in other EU member states. The Commission concluded that the operation would not significantly impede effective competition in the European Economic Area (EEA) or in any substantial part of it.

As Allied Irish Banks currently accounts for a substantial part of the Irish market for merchant acquiring and First Data Corporation holds a controlling stake in Omnipay - a payment processing platform located in Ireland - the Commission checked whether any competition concerns would arise from the relationship between the merchant acquiring services to be offered by the joint venture and First Data's transaction processing activities in Ireland. It found that Omnipay provides processing services for transactions originating all across Europe and not only in Ireland and that the joint venture would face competition from a number of competitors both in Ireland and elsewhere in the EEA.

Following the transaction, the parties' joint share of all merchant acquiring in the EEA would be less than one per cent. Due to the limited activities of Allied Irish Banks, the increase in market share would be marginal, states the Commission. As regards payment card processing, "there are no significant overlaps and there are strong competitors in all Member States in which the parties' activities overlap".
KeywordsLEGAL

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

First Data cuts 1700 jobs

First Data cuts 1700 jobs

16 November 2007  |  10353 views  |  0 comments
Allied Irish in merchant acquiring JV with First Data

Allied Irish in merchant acquiring JV with First Data

14 November 2007  |  10792 views  |  0 comments
First Data buys commercial cards outfit Deecal

First Data buys commercial cards outfit Deecal

15 October 2007  |  7959 views  |  0 comments
First Data to buy Brazil's Check Forte

First Data to buy Brazil's Check Forte

26 July 2007  |  6395 views  |  0 comments
First Data names Michael Capellas new CEO

First Data names Michael Capellas new CEO

10 July 2007  |  5753 views  |  0 comments
KKR to acquire First Data for $29 billion

KKR to acquire First Data for $29 billion

02 April 2007  |  11403 views  |  0 comments
First Data to buy Polish card processor Polcard

First Data to buy Polish card processor Polcard

30 March 2007  |  7960 views  |  0 comments
First Data in talks to acquire AIB card processing operations

First Data in talks to acquire AIB card processing operations

04 December 2006  |  11557 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
download the paper nowvisit www.dorsum.euvisit www.niceactimize.com

Top topics

Most viewed Most shared
Rabobank constructs physical model to understand IT architectureRabobank constructs physical model to unde...
15511 views comments | 39 tweets | 74 linkedin
Mobile contactless spending accelerating in UKMobile contactless spending accelerating i...
13066 views comments | 28 tweets | 23 linkedin
Barclays pairs banking data with third party apps for SmartBusiness DashboardBarclays pairs banking data with third par...
11712 views comments | 22 tweets | 34 linkedin
Australia regulates digital currenciesAustralia regulates digital currencies
10906 views comments | 21 tweets | 35 linkedin
RBS to bring Silicon Valley to EdinburghRBS to bring Silicon Valley to Edinburgh
10800 views comments | 10 tweets | 8 linkedin

Featured job

Competitive
London, UK (or flexible)

Find your next job