Mergers: Commission clears acquisition of joint control of CaixaBank Electronic Money E.D.E., S.L. by Global Payments Inc. and CaixaBank, S.A.
Daily News 20 / 04 / 2020
Source: European Commission Spokesperson's Service
The European Commission has approved, under the EU Merger Regulation, the acquisition of joint control of CaixaBank Electronic Money E.D.E., S.L. (“MoneyToPay”) of Spain by Global Payments Inc. of the U.S. and CaixaBank, S.A. of Spain. MoneyToPay issues prepaid payment products (VISA prepaid payment cards and wearables) in Austria, Portugal and Spain. Global Payments is a worldwide provider of payment technology solutions. CaixaBank is a multinational financial services group. The Commission concluded that the proposed acquisition would raise no competition concerns, given the absence of horizontal overlaps and very limited vertical relationships between the companies’ activities. The transaction was examined under the simplified merger review procedure. More information is available on the Commission's competition website, in the public case register under the case number M.9775.