Verifone Finally Gets Approval to Acquire Smartpay

  • Jun 12, 2020 NZST
  • Team Kalkine
Verifone Finally Gets Approval to Acquire Smartpay

Verifone has been seeking competition clearance to buy the local rival in NZ and with commerce commission granting permission to acquire Smartpay and its subsidiaries' assets, the road to merging of two rivals look clear.

The commerce commission, while giving the consent maintained that the proposed merger is not going to reduce competition in any New Zealand market substantially.

Chair, Anna Rawlings said that the Commission considers that the merging parties are rivals, the competing suppliers, with the ability to grow, will restrain Verifone from increasing prices or reduce the quality of service.

 


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