CMA publishes decision on payment systems merger

CMA has published the full text of its decision on whether the anticipated merger of Bacs Limited, FPS Limited, and C&CC Limited would result in a substantial lessening of competition and would therefore be referred under section 33(1) of the Enterprise Act 2002.

CMA has concluded that the Merger does not raise competition concerns as there is currently no material competition between the different payment systems operated by the Parties. In particular, each of the three payment schemes offers a different type of payment, processed at a different speed, via a different channel, and they are typically used for different transaction values. Hence, almost all banks participate in all three payment schemes.