E.C. Ready To Sanction Electronic Payment Companies

Law360, New York (May 3, 2006, 12:00 AM EDT) -- European Union antitrust regulators will wield their legal might to force open the electronic payments industry to competition, but only if companies fail to police themselves.

This message comes on the heels of a report issued last month that found high prices and a dearth of competition in Europe’s credit/electronic payment card sector.

“Our intention is, prior to intervention on our side, to give a chance to the industry to self-regulate before we will initiate individual antitrust proceedings,” E.U. Competition spokesman Jonathan Todd wrote in an...
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