EU clears two joint ventures between Evo Payments, Raiffeisen

The European Union (EU) on Friday approved two separate joint ventures between EVO Payments International and Raiffeisen which aim to provide payment card processing services in Poland and the Czech Republic.

EVO Payments International, a card payment acquirer and payment service provider operating throughout the United States, Canada and Europe, earlier reached agreements with the Polish and Czech subsidiaries of Raiffeisen Bank International AG, an Austrian based bank with international activities.

EU's executive body, the European Commission, concluded that the two proposed transactions would not raise competition concerns because the activities of EVO and Raiffeisen overlap only to a limited extent on the concerned markets. Endit