Spain: CNMC approves merger of major payment systems

Spain’s National Commission of Markets and Competition (CNMC) has approved the merger of Servired payment services, Sistema 4B and Euro6000 under a single brand, to be constituted under the name of Sistema de Tarjetas y Medios de Pago, SA.

The operation contemplates a series of commitments proposed by the operators to which the CNMC has given its approval, seeking to guarantee that the change will bring greater competition in card payment applications. These commitments will stand for five years, although they could be extended for a further three years.

These commitments imply, among other aspects, guaranteeing payment service providers access to the unified domestic system and their objective and impartial action, as well a ensuring access quotas for new members are in line with the European Union average, not set tu “dissuasive” levels.

Full Content: Noticias Bancarias

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