M/21/004 – AIB/BoI/PTSB/KBC- Mobile Payment JV
Transaction details
The proposed transaction whereby a joint venture between Allied Irish Banks, P.L.C.; the Governor and Company of the Bank of Ireland; Permanent TSB P.L.C. and KBC Bank Ireland P.L.C. will be created for the purpose of implementing a new industry-wide mobile payment system service that can be used, subject to the joint venture licensing terms, by all financial institutions (including consortia of smaller financial institutions) that issue Euro-denominated IBANs to Irish customers has been notified to the Competition and Consumer Protection Commission.
| Notification date | Decision date |
|---|---|
| Friday January 8, 2021 | |
| Parties Involved | Business activities |
|---|---|
| Allied Irish Banks P.L.C. | Allied Irish Banks P.L.C. ("AIB") is a financial services group operating predominately in the State and the United Kingdom. AIB provides a range of services to personal, business and corporate customers. |
| The Governor and Company of the Bank of Ireland | Bank of Ireland ("BoI") is a financial services group providing a broad range of banking and other financial services with offices in the State, the United Kingdom, the United States of America, Germany, France and Spain. |
| Permanent TSB P.L.C. | PTSB is a financial services group with a focus on personal and small business customers. |
| KBC Bank Ireland P.L.C. | KBC Bank Ireland is part of the KBC Group, a Belgian-based financial services group providing a range of financial and insurance services to personal and business customers. |
| Economic sector | Media merger |
|---|---|
| Financial and insurance services | No |
| Submissions from third parties due by: | |
|---|---|
| Phase 1 | Phase 2 |
| Friday, January 22, 2021 | |
| Current status: Active |
|---|
| Preliminary investigation (Phase 1) |
| Authorised Officer Assigned | Contact Details |
|---|---|
| Cathal Hanley | Phone: + 353 1 470 3681 |
| Kathryn MacGuill | Phone: + 353 1 470 3692 |
Media enquiries: communications@ccpc.ie
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