Taiwanâs Fair Trade Commission Approves Electronic Payment Joint Venture among Taiwan Family Mart Co., Ltd., E. Sun Commercial Bank and Pi Mobile Technology Inc.
On 13 October, 2021, Taiwanâs Fair Trade Commission (the âTFTCâ) approved a joint venture between one of Taiwanâs leading convenience stores chains, Taiwan Family Mart Co., Ltd. (âFamily Martâ), with one of Taiwanâs leading commercial banks, E. Sun Commercial Bank (âE. Sunâ), and one of Taiwanâs third-party payment processers, Pi Mobile Technology Inc. (âPi Mobileâ), to create an e-commerce payment system (the âJoint Ventureâ).
While Family Mart, E. Sun, and Pi Mobile primarily operate in different markets, all three offer mobile payment services and, therefore, the TFTC examined both the horizontal and conglomerate relationships of the combination prior to granting its approval. The TFTC ultimately decided that the combination would not have any negative impact on competition in Taiwan, and, in fact, could even benefit consumers, and so approved the formation of the Joint Venture.
The TFTC also examined antitrust concerns in regards to whether the Joint Venture would gain an unfair competitive advantage that could not be replicated by its competitors by way of its concentration of user personal data. The TFTC ultimately decided that the Joint Venture would not create competition concerns in this regard.
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