UK Watchdog Worried About Payment Software Merger

Law360 (October 7, 2019, 8:28 PM EDT) -- The United Kingdom's antitrust enforcer has been looking into the merger of two payment software companies and is officially concerned the deal could mean higher prices and reduced competition, it revealed Monday.

The Competition and Markets Authority gave Bottomline Technologies a week to assuage concerns raised by the watchdog's preliminary probe into the payment company's March acquisition of rival Experian Payments Gateway. If it doesn't hear any solutions by Oct. 14, it will be launching an in-depth investigation, the CMA said.

Both companies make software that businesses use to direct-deposit their employees' salaries.

"Payment software is critical to many businesses in the U.K....

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