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The consequences of Ingenico acquiring Paymark

  • News
  • April 26, 2018
  • Sarah Dunn
The consequences of Ingenico acquiring Paymark

Listed French payments group Ingenico struck a deal to acquire Kiwi payment network Paymark for $190 million in January this year. The Commerce Commission is working towards a decision on whether or not to grant clearance to the proposed merger, and has now released a statement going over preliminary issues.

The Commerce Commission will only give clearance to the merger once it’s satisfied this will not have the effect of substantially lessening market competition in New Zealand.

Among the issues it’s currently considering are whether the proposed merger will raise vertical effects, which may increase the post-merger Paymark’s ability to foreclose its rivals. One way it could potentially do this is by making it harder or more costly to gain access to Paymark’s switch or related services. Firms vulnerable to this might supply terminals in competition with Ingenico or provide digital gateway services in competition with Paymark and Bambora.

Ingenico has argued that the proposed merger does not raise any vertical concerns as rivals for the supply of terminals could use a rival switch. It would not be in the interests of post-merger Paymark to engage in conduct like the above as any profits gained in the supply of terminals would not exceed the lost profits from reduced switch transactions.

The Commerce Commission intends to make a decision on whether or not to give clearance to the merger by 19 June.

Anyone interested in commenting on the likely competitive effects of this merger can make a submission to the Commerce Commission by May 4. Details on how to do this, and more details on the merger, can be found at the Merger Clearances Register.

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Direct sales: How multi-level marketing works

  • News
  • April 18, 2019
  • Sarah Dunn
Direct sales: How multi-level marketing works

The $200 million-plus direct sales economy contains many lessons retailers can use. As part of a wider look at this thriving corner of retail, we created a quick explainer showing how this business model typically works.

Read more
 
 

Direct sales: Meet the upliners

  • News
  • April 18, 2019
  • Sarah Dunn
Direct sales: Meet the upliners

We profiled different participants in the direct sales industry to find out what retailers can learn from them. Meet Isagenix distributors Adam Nesbitt and Bianca Bathurst.

Read more
 
 

Direct sales: Meet the business builder

  • News
  • April 18, 2019
  • Sarah Dunn
Direct sales: Meet the business builder

As part of a wider story looking at what retailers can learn from the direct sales industry, we profiled Isagenix distributor Ben Frost.

Read more
 

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A spectrum of retailers

  • Opinion
  • April 18, 2019
  • David Farrell
A spectrum of retailers

In recognition of April being Autism Awareness Month, retail commentator Dave Farrell considers the role of those on the spectrum in retail.

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How on-trend is your retail business?

  • Sponsored Content
  • April 18, 2019
  • Sponsored content
How on-trend is your retail business?

New insights from Visa highlight five evolving trends emerging from savvy retailers around the world. We’ve taken these global trends and looked at how they are playing out with merchants in New Zealand, and we’d now like to hear what you think of them.

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