European Commission Closes EPC ePayment Investigation

What's Next In Payments®
5:34 PM EDT June 16th, 2013

The European Commission announced it has closed the antitrust investigation observing the standardization process for online payments conducted by the European Payments Council.

The commission opened the investigation in September 2011 because they questioned the organization’s standard for online payments, specifically their ePayments framework. The commission was concerned that the EPC excluded new entrants that were not connected to a bank from the ePayments market from their framework.

During the investigation process, the EPC decided to cease further development of its ePayment framework as well as stop other standardization projects that had the same effect. Since this occurrence, the complainant, Sofort AG, dropped the complaint and the EC closed the investigation.

Read the full story here.

Topics:
Comments
Also by This Author
What's Hot
Loyalty & Rewards
Payment History Firm Pulls In $70 Million Investments
Mobile
Bitcoin Platforms Being Reclassified As Money Transmitters
Apple Pay Tracker
Wireless Carriers Could Be Left Out Of NFC Payments
Apple Pay Tracker
What CurrentC Didn’t Say
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
WEX Comes Off Q3 With Strong Results
International
Transforming Payments from Cost Centers to Revenue Drivers
B2B Payments
U.S. Bank Tries To Streamline B2B Electronic Payments
CA Technologies
Online Transacting Is Safer Than A Card Present World
View All Articles ››