Legal update from Practical Law Commercial: ACCC authorises merger of BPAY, EFTPOS and NPP payments system companies
After extensive public consultation, the Australian Competition and Consumer Commission (ACCC) announced on 9 September 2021 that it would authorise a proposed merger of companies that operate the BPAY, EFTPOS and NPP payments systems into a new entity, Australian Payments Plus Ltd (AP+), after accepting a court-enforceable undertaking from AP+.
Each of the companies proposing to merge into AP+ own and operate payments infrastructure and facilitate electronic payment systems. These are essential services provided by a sector that is frequently under regulatory review (see Legislation tracker, Payments systems law reform).
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