P27 Nordic Payments: Secures merger approval from EU Commission

P27 Nordic Payments: Secures merger approval from EU Commission

• P27 Nordic Payments company owned by six of the largest banks in the Nordics
• The European Commission today announced merger approval for the initiative to establish its pan-Nordic payments platform
• This approval marks a significant milestone for the initiative which is working toward the creation of a common payments infrastructure
• The merger approval was an essential step for P27, enabling it to begin preparations for onboarding customers in Denmark, Finland, and Sweden
• A press release states that P27 will now commence with preparations for pan-Nordic payments services and products
• The Commission’s update reads that “the transaction gives rise to horizontal overlaps