Regulators Block Payments Merger in New Zealand

What's Next In Payments®
7:54 PM EDT June 17th, 2012

New Zealand’s Commerce Commission denied a merger between epay and Ezi-Pay because the transaction might significantly reduce competition in that market for pre-paid mobile phone top-up services, a release explains.

According to the commission, the companies actually compete in five markets. The four where the deal would have been allowed include: distribution and in-store payment processing of calling cards; third-party distribution and in-store payment processing of gift cards; distribution and in-store payment processing of digital content; and distribution and payment processing of pre-paid electricity.

But that wasn’t enough. “While the Commission is satisfied that the proposed acquisition will not have, or would not be likely to have, the effect of substantially lessening competition in four of the relevant markets, the majority is not satisfied that the same is true for a fifth market – the distribution and in-store payment processing of pre-paid mobile phone top-ups,” explained Commerce Commission Chair Dr. Mark Berry.

Read the full story here.

Comments
Also by This Author
What's Hot
News
Square Launches Register App Platform
News
Etsy Debuts mPOS Solution
Merchant Innovation
Ron Johnson’s New Company To Focus On Shopper Decisions
B2B Payments
WEX and Sinclair Oil Strike Long Term Contract
View All Articles ››
You May Also Like
Company Spotlight
Different mPOS Strokes for Different mPOS Folks
International
Digital River Offers A Sneak Peak At Mobile eCommerce Trends
Mobile Commerce
Trustwave Buys Cenzic To Beef Up App Testing Capability
B2B Payments
Tungsten Spent $6.5 Million for DocuSphere
Company Spotlight
Inside the Future of Commerce, Post Apple Pay
Alternative Financial Services
Death Threats, Fraudsters and Lawsuits
News
How to Overcome the 10 Most Common Cyber Threats
View All Articles ››