Competition regulator approves eftpos, BPAY and NPPA merger

After a lengthy approval process the competition watchdog has given the green light for BPAY, eftpos and NPP Australia to merge under the banner of Australian Payments Plus.

The Australian Competition and Consumer Commission (ACCC) announced its decision today, authorising Australian Payments Plus (AP+) merger of the three payments systems, which it will keep as separate brands. 

Rod Sims, ACCC chair, acknowledged the decision, saying the regulator didn’t consider the three companies to be close competitors because their services cater to different parts of the payments market.