The Israel Competition authority recommends opening the network between P2P payment apps opening the network between P2P payment apps
Click here to read the full article onlineThe first study conducted by the Israel Competition Authority (ICA) in the digital economy arena demonstrates how the presence of a "network effect" enables a single firm to dominate the market. The vast majority of Person-to-Person (P2P) transfers in mobile payment apps are executed using Bank Hapoalim’s apps "Bit". The study provides evidence for the presence of a network effect in P2P payments, making it very difficult for other apps to compete and increasing the likelihood of harm to users.