In 2022, Vipps and MobilePay, significant players in the digital smartphone wallet market in the Nordics, filed with the European Commission for approval to form a joint venture. The transaction would make them a key player in the Nordic payment market. Copenhagen Economics was engaged to support the parties in the notification process with the European Commission.
We supported the clients by providing data-heavy analysis of key segments of the payment space. Our economic support, in close collaboration with the legal advisors, covered the entire competitive assessment.
Drawing on relevant economic theories backed by hard evidence, we focused on:
a) prospective levels of market concentration for different potential payment markets and geographic market definitions, and
b) complex links between mobile operators and their owner banks.
Lastly, we assisted the client throughout the approval process and in the responses to extensive European Commission requests for information.
Having identified potential concerns with the initially proposed transaction, the European Commission cleared the refiled transaction.
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