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1
Big Techs in the
payment system
Michiel van Leuvensteijn
OECD 9th June 2021
2
Study of Big Techs in payments
• The ACM has conducted a market study on
Big Techs in the Dutch payment system on
instigation of Ministry of Finance.
• Focus of ACM on 6 Big Techs and payment
system only.
3
Policy options for enhancing
interoperability:
• Adjust PSD2 in such a way that payment
service providers gain access, under fair,
reasonable and non-discriminatory criteria, to
the ‘facilitating technology’ of Big Techs, if they
act as gatekeeper when offering payment
services.
• Ex-ante instrument: ACM supports the initiatives
by the European Commission.
4
Big Techs
• Apple, Google, Facebook, Amazon,
Ant Group/ Alibaba and Tencent.
• Limited position in Dutch payment market,
but growing.
• PSD2 no major reason for entry.
5
Activities of Big Techs on payment markets
and reasons for entry
6
Potential risks for competition:
• Foreclosure of competing payment services
on Big Tech platforms.
• Big Techs may leverage market power that
they do have on adjacent markets to
payment market.

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Data Portability and Interoperability – NETHERLANDS – June 2021 OECD discussion

  • 1. 1 Big Techs in the payment system Michiel van Leuvensteijn OECD 9th June 2021
  • 2. 2 Study of Big Techs in payments • The ACM has conducted a market study on Big Techs in the Dutch payment system on instigation of Ministry of Finance. • Focus of ACM on 6 Big Techs and payment system only.
  • 3. 3 Policy options for enhancing interoperability: • Adjust PSD2 in such a way that payment service providers gain access, under fair, reasonable and non-discriminatory criteria, to the ‘facilitating technology’ of Big Techs, if they act as gatekeeper when offering payment services. • Ex-ante instrument: ACM supports the initiatives by the European Commission.
  • 4. 4 Big Techs • Apple, Google, Facebook, Amazon, Ant Group/ Alibaba and Tencent. • Limited position in Dutch payment market, but growing. • PSD2 no major reason for entry.
  • 5. 5 Activities of Big Techs on payment markets and reasons for entry
  • 6. 6 Potential risks for competition: • Foreclosure of competing payment services on Big Tech platforms. • Big Techs may leverage market power that they do have on adjacent markets to payment market.