The EU Commission approves acquisition of a payment solution provider’s account-to-account payment business by global payment card company, subject to conditions (Nets / Mastercard)

Mergers: Commission approves acquisition of Nets' account-to-account payment business by Mastercard, subject to conditions* The European Commission has approved, under the EU Merger Regulation, the proposed acquisition of Nets' account-to-account payment business by Mastercard. The decision is conditional on the transfer of a license for Nets' “Realtime 24/7” technology for account-to-account core infrastructure services as well as of the relevant personnel and other assets. Executive Vice-President Margrethe Vestager, responsible for competition policy, said: “Companies and citizens seek competitive and innovative payment solutions for their banking transactions. This merger, as originally notified, would have significantly reduced competition in the market for account-to-account core

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European Commission, The EU Commission approves acquisition of a payment solution provider’s account-to-account payment business by global payment card company, subject to conditions (Nets / Mastercard), 17 August 2020, e-Competitions September 2020, Art. N° 96467

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