The Irish Competition Authority requires binding commitments to clear a joint venture establishing a new mobile payments service (Allied Irish Banks / Governor and Company of the Bank of Ireland / Permanent TSB / KBC Bank Ireland / Synch Payments)

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Irish Competition Authority, Allied Irish Banks / Governor and Company of the Bank of Ireland / Permanent TSB / KBC Bank Ireland / Synch Payments, Press Release, 16 June 2022

CCPC requires binding commitments to clear establishment of new mobile payments service by banks* The Competition and Consumer Protection Commission (CCPC) has cleared, subject to a number of legally binding commitments, the proposed transaction whereby Allied Irish Banks P.L.C., the Governor and Company of the Bank of Ireland, Permanent TSB P.L.C. and KBC Bank Ireland P.L.C. will establish a joint venture company, Synch Payments DAC (Synch), to provide a new mobile payments service (M/21/004). The mobile payments service will be available to customers of banks and other financial institutions

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Irish Competition Authority, The Irish Competition Authority requires binding commitments to clear a joint venture establishing a new mobile payments service (Allied Irish Banks / Governor and Company of the Bank of Ireland / Permanent TSB / KBC Bank Ireland / Synch Payments), 16 June 2022, e-Competitions Mergers & Joint ventures, Art. N° 108261

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