Online payment: Europe investigation
The European Commission says it has finally closed its investigations into the risks of agreement and abuse of a dominant position in the online payment industry. The body dedicated to this segment will nevertheless continue to monitor this activity.
In September 2011, Europe was in charge of conducting a Opinion Outpost Review survey on standardization work in the online payment market. The objective of the Community bodies was to determine whether the companies in the sector had put in place strategies to create agreements on this particular segment.
The European Commission was also asking whether these methods could lead to the exclusion of new entrants to the market. After carrying out these investigations, it indicated that it had closed its investigation, which was also pushed by the complainant, to Sofort, which finally withdrew its application.
Europe is motivated by the fact that the standardization work carried out by the European Payments Council (EPC) has been finalized. As a reminder, this entity bringing together European banks and their federations is responsible for supporting the work of standardization in this area.
The Community authorities will nevertheless continue to closely monitor the sector in order to allow a new entrant to offer its own services.