Vipps must allow competitors access to BankAxept and BankID for another three years

In 2018, the Norwegian Competition Authority approved the merger between Vipps, BankAxept AS and BankID Norge AS with remedies. The decision was prolonged for three years in 2021.

The Competition Authority has now considered anew whether there is a need to prolong the remedies. It has concluded that market developments have not led to changes that alter Vipps’ ability and incentive to exclude competitors.

It is also the Competition Authority’s assessment that there is no indication of this changing over the next two to three years.

Consequently, the Competition Authority has concluded that the remedies are still needed and should be renewed for another three years.

One of the conditions for approving the merger, was that Vipps committed to give providers of third-party payment solutions access to BankAxept and BankID on non-discriminatory terms.

The Competition Authority has consulted third parties, giving market players and stakeholders the opportunity to submit their comments. The responses from the consultation show that there is still a need for the remedies to be continued.

– BankAxept and BankID are still majors providers of payment systems and ID and signature services and their services are important input factors in the market for payment solutions, says Senior Advisor Kristjan Ryste.

The Norwegian Competition Authority has found that the merger between Vipps, BankAxept, and BankID would still significantly impede effective competition, and that the remedies are still necessary to remove the anti-competitive effects of the merger.

– The remedies prolonged today make it possible for competing payment solutions to enter the market and compete with Vipps. The Competition Authority is tasked with protecting the interests of consumers, and we are of the opinion that a prolongation of the remedies will contribute to consumers being able to access the best possible payment solutions at the lowest possible price, says Acting Deputy Director Hanne Falkanger .

The Authority has therefore decided to prolong the decision and to keep the remedies in place for three more years, until 27 April 2027.