Commission européenne, DG COMP MERGER REGISTRY, 1049 Bruxelles, BELGIQUE  
Europese Commissie, DG COMP MERGER REGISTRY, 1049 Brussel,   BELGIË  
 
Tel: +32 229- 91111. Fax: +32 229 -64301. E -mail: COMP -MERGER -REGISTRY@ec.europa.eu.  
  EUROPEAN COMMISSION  
Brussels,  17.04.2020  
C(2020)  2552 final  
PUBLIC VERSION 
To the notifying parties  
Subject : Case M. 9775 -  Global Payments / CaixaBank / MoneyToPay  
Commission decision pursuant to Article 6(1)(b) of Council Regulation 
(EC) No  139/20041 and Article 57 of the Agreement on the European 
Economic Area2  
Dear Sir or Madam,  
1. On 23 March 2020, the European Commission received notification of a proposed 
concentration pursuant to Article 4 of the Merger  Regulation by which Global 
Payments Inc. ("Global Payments", USA ) and CaixaBank, S.A. ("CaixaBank", Spain) 
acquire  within the meaning of Article 3(1)(b) and of Article 3(4) of the Merger 
Regulation  joint control of CaixaBank Electronic Money E.D.E., S.L. 
(“MoneyToPay” , Spain) by way of  purchase o f shares .3 
2. The business activities of the undertakings concerned are:  
− Global Payments : a worldwide provider of payment technology solutions, 
including  enterprise and payment management solutions (principally in the US), 
payment card processing, online paym ent portal solutions and merchant acquiring 
services and products ; 
− CaixaBank:  a multinational group of financial services. It mainly provides 
banking services (retail, corporate, private banking), collective investment and 
securitization services as well as the provision of specialised insurance products 
in Spain and Portugal ; 
− MoneyToPay :  a company that issues prepaid payment products in Spain, 
Portugal and Austria. These products are VISA prepaid payment cards and 
wearables, which may be universally accepted in any store and special prepaid 
products which are solely accepted on specific s tores . 
                                                 
1 OJ L 24, 29.1.2004, p. 1 ( the ‘Merger Regulation ’). With effect from 1 December 2009,  the Treaty on 
the Functioning of the European Union ( ‘TFEU ’) has introduced certain changes, such as the 
replacement of ‘Community ’ by ‘Union’  and ‘common market ’ by ‘internal market ’. The terminology 
of the TFEU will be used throughout this decision.  
2  OJ L 1, 3.1.1994, p.  3 (the ‘EEA Agreement ’). 
3  Publication in the Official Journal of the European Union No C 104, 31.3.2020, p. 9. 

 
2 3. After examination of the notification, the European Commission has concluded that 
the notified operation falls within the scope of the Merger  Regulation and of 
paragraph 5(a) of the Commission Notice on a simplified procedure for treatment of 
certai n concentrations under Council Regulation (EC) No  139/2004.4 
4. For the reasons set out in the Notice on a simplified procedure, the European 
Commission has decided not to oppose the notified operation and to declare it 
compatible with the internal market and  with the EEA Agreement. This decision is 
adopted in application of Article 6(1)(b) of the Merger  Regulation  and Article 57 of 
the EEA Agreement . 
For the Commission 
 
 
(Signed)  
Olivier GUERSENT  
Director -General  
                                                 
4  OJ C 366, 14.12.2013, p. 5.