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Proposed Ingenico acquisition of Paymark hits a snag

  • News
  • July 12, 2018
  • The Register team
Proposed Ingenico acquisition of Paymark hits a snag

The Commerce Commission has concerns about potential competition issues that may arise from the proposed merger between Paymark and French payments group Ingenico. The deal was proposed in January this year and has been working its way through regulatory consents.

Paymark currently services all major card issuers and over 140,000 Eftpos terminals via more than 80,000 merchants. Three quarters of all transactions in New Zealand are processed by Paymark’s core switch.

Ingenico currently supplies payments terminals to the New Zealand market. It’s headquartered in Paris and employs around 7,500 people.

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. It released a statement of preliminary issues in April which outlined some issues, including whether the proposed merger will raise vertical effects, which may increase the post-merger Paymark’s ability to foreclose its rivals.

The Commerce Commission has today sent a letter of issues to Ingenico outlining that, at this stage, the Commission is “not satisfied that the acquisition would not be likely to have the effect of substantially lessening competition.”

You can read the letter on the commission’s website here. Interested parties can make submissions on the issues outlined in the letter if they contact the Commerce Commission before July 25.

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Kathmandu appoints vice president of sales and marketing for North America

  • Who's Where
  • July 17, 2018
  • Sarah Dunn
Kathmandu appoints vice president of sales and marketing for North America

Kiwi outdoor gear retailer Kathmandu has appointed Bill Chandler to the newly-created position of vice president of sales and marketing, Kathmandu North America.

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Several designers announced for New Zealand Fashion Week

  • News
  • July 17, 2018
Several designers announced for New Zealand Fashion Week

Alongside the announcement of Turet Knuefermann opening for New Zealand Fashion Week, the week-long fashion exhibition includes several other big names of New Zealand designers, including first launches and classic returns.

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How businesses are celebrating Matariki

  • News
  • July 17, 2018
  • StopPress Team
How businesses are celebrating Matariki

The Maori New Year is increasing in cultural prominence each year, and some say it's only a matter of time before it becomes an official holiday. Here's how some Kiwi businesses market Matariki this year.

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Stolen Spirits co-founder Jamie Duff launches a new fitness nutrition brand

  • News
  • July 17, 2018
  • Caitlin Salter
Stolen Spirits co-founder Jamie Duff launches a new fitness nutrition brand

Stolen Spirits co-founder Jamie Duff has set up shop in the US alongside former Stolen creative director Kelvin Soh to found a venture studio in New York called New New. And now, the company has just debuted its most recent venture: Weekday Warriors, a direct-to-consumer nutrition company making premium fitness-related convenience products for busy people. Duff has a chat about the new project, as well as breaking into the US market.

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Wellington raincoat-maker Okewa creates a sustainable new line

  • Design
  • July 16, 2018
  • Findlay Buchanan
Wellington raincoat-maker Okewa creates a sustainable new line

Wellington based fashion brand, Okewa, is set to unveil its new capsule of mens and womens coats made from 100 percent recycled post-consumer plastic bottles. The new range will be released next Thursday and will be available for pre-order on the Okewa website and via Kickstarter as part of Plastic-Free July. It presents a new direction for Okewa, who is moving down the sustainability route for its high-quality rainwear range. Founders and loving partners Nevada and Nick Leckie share insights into its new clothing line as well as musings of the brand's origins founded in the windiest city in the world.

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