Antitrust Considerations in Payments
New payment technologies have received attention in the press, from government agencies, and by the Plaintiffs’ bar. As the payments ecosystem evolves, it is helpful to think about how competition may be evaluated in the payments space, particularly since innovations have been at different functional levels (e.g., merchant point-of-sale (“POS”), payment networks). The concept of two-sided markets has received attention in evaluating competition in payments, notably in the U.S. vs. Visa et al. decision 20 years ago and in the 2018 Ohio vs. AMEX Supreme Court decision.