A PYMNTS Company

Argentina: New payments players enter market after PRISMA cut-down

By  |  July 25, 2017

The CEO of Worldpay, Juan Pablo D’Antiochia, has announced that Europe’s largest payment processor will compete in Argentina’s payments sector after the National Commission for the Defense of Competition (CNDC) accused Prisma –Visa’s licensee– of possible abuse of dominance, forcing 14 banks to divest from the payments aggregator.

Before the end of the year, the company has promised that it will start operating in the credit/debit card payment market, one of the sectors where the CNDC has identified monopolistic behavior by Prisma. Worldplay will begin specifically with e-commerce services.

“The regulatory context generates the incentive to enter,” said the executive. “It could have accelerated earlier, but the practice has to do with the lack of choice. What is going to be noticed quickly is the issue of different solutions for payments.”

Full Content: El Sol

Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.