ESA (the EFTA Surveillance Authority) has closed its investigation into whether a number of payment providers (Finance Norway, Bits, BankID, DNB and Nordea) had colluded to prevent Swedish payment initiation provider, Trustly, from entering the e-payments market in Norway.

The investigation was formally opened after Trustly lodged a complaint. The proceedings related to whether the payment providers had:

  • agreed or coordinated to exclude Trustly by preventing it from providing its e-payments service in Norway; and
  •  applying terms and conditions for the operation and/or use of e-payment services in Norway which had as their object or effect the prevention, restriction or distortion of competition.

Discussions between the parties subsequently took place and technical and contractual solutions were put in place, following which Trustly informed the authority that it no longer experienced obstructions in providing its e-payment services in Norway. In view of this and reasons for prioritisation, the investigation was closed. However, ESA has stated that it will continue to monitor the relevant markets closely.