The European Commission has opened an antitrust investigation conducted
by a panel of the European banking sector standard-setting process for
online payment systems. The Commission said on Monday in Brussels. The
European Payments Council (EPC ) is an organization of the banking
industry for the European payments. The EPC will establish as part of
its efforts for a Single Euro Payments Area (SEPA) cross-border
standards for electronic payments.
The Commission will "carefully review" standardization. It must be
ensured that new entrants or payment service providers which do not
belong to a bank, had free access to the market. An exclusion of
competitors from the market for online payments could lead to higher
prices for Internet retailers and ultimately consumers. This could be a
violation of EU rules on restrictive business practices. The Commission
has received claims to make an appropriate complaint, which is part of
the investigation.
Basically, the Commission welcomes the planned standardization and the
SEPA project, the Brussels attaches fundamental importance for the
completion of the internal market for dealers and consumers. "The use of
the Internet increases rapidly. Therefore, the need for secure and
efficient online payment options in the Single Euro Payments Area and
more urgent," said the Commissioner for Competition Policy Commission
Vice-President, Joaquin Almunia. "Standards promote interoperability and
competition. We have to ensure that standardization is not limited the
possibilities of non-participants."
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