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Banks tell ACCC that payments merger will strengthen competition


Banks tell ACCC that payments merger will strengthen competition
Banks tell ACCC that payments merger will strengthen competition
08 July 2021 7:41AM
The industry committee advancing the case for combining Australia’s three domestic payments schemes has urged the ACCC to approve the proposed merger because it will improve competition.
The committee, which includes representatives from the four major banks, Cuscal and Woolworths, is facing an uphill task to win approval for joining the operations of Eftpos Australia, the NPP and BPay after the regulator indicated in early June that a union could substantially lessen competition in the payments market.
Industry committee chair Robert Milliner yesterday warned that each of the merger candidates would find it more challenging to compete against the international card schemes if the ACCC rejected the application. ....

Lance Blockley , Adrian Lovney , Master Grocers Association , Eftpos Australia , Robert Milliner , Reserve Bank , குரு மளிகைக்கடைக்காரர்கள் சங்கம் , எப்த்போஸ் ஆஸ்திரேலியா , ராபர்ட் மில்லினர் , இருப்பு வங்கி ,