CCPC rejects a notification from banks of their plans to develop a shared payments app

Country’s competition watchdog says not enough information was provided on the project aimed at challenging Revolut and N26

21st January, 2021
CCPC rejects a notification from banks of their plans to develop a shared payments app
AIB, Bank of Ireland, KBC Ireland and Permanent TSB are looking to develop the app as a joint venture. Picture: Rollingnews.ie

The country’s competition watchdog has rejected a notification from the main retail banks of their plans to develop a new shared payments app on the basis that not enough information was provided to it.

The Competition and Consumer Protection Commission (CCPC) has this evening confirmed that it has rejected as “invalid” the merger notification from AIB, Bank of Ireland, KBC Ireland and Permanent TSB which are looking to develop the app as a...

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