A joint media release from the shareholders of eftpos, BPAY Group and NPP Australia

Australia’s three domestic payment organisations, eftpos, BPAY Group and NPP Australia intend to amalgamate, creating a stronger, unified entity (“NewCo”) that will aim to reduce costs, increase innovation and efficiency, and be better able to compete with the growing scale of overseas multinational payment platforms.

A formal authorisation application will be filed with the ACCC in March 2021. The application will provide full details of the proposal and rationale. It will be made publicly available and subject to broad public consultation before the ACCC makes a determination within 90 days.

Read the full media release here.