The Administrative Council for Economic Defense (Where is it) decided late Tuesday afternoon to withdraw a precautionary measure that prevented an agreement for the creation of a payment system in the country recently launched by Whatsapp with the largest company in the sector in Brazil, Cielo (CIEL3).
The competition defense body said, however, that it will continue investigating the partnership.
Despite Cade’s decision, the Whatsapp payment service is unlikely to return to work soon because the central bank blocked the deal last week because of issues related to flags Visa and MasterCard. Wanted, representatives of the Central Bank did not speak out.
In the order signed on Tuesday, Cade’s general superintendent, Alexandre Cordeiro Macedo, affirms that “it is understood that there is evidence that the grounds that supported the decision to impose a precautionary measure do not exist, therefore it is up to the measure to be revoked. precautionary ” issued last Tuesday.
“Any anti-competitive conduct adopted by the parties may be the subject of an investigation by this superintendence and even the subject of a new precautionary measure,” said Macedo in the order.
According to the text, the continuation of the investigation stems from the need to make an analysis as to whether the agreement can be configured as an act of concentration of mandatory notification.
The companies claimed to the autarchy that the agreement does not represent an irreversible danger to the market since it could be suspended at any time and that, in this case, this would not represent a reduction in supply.
“Under the terms of the agreement, Facebook (Whatsapp controller) would not guarantee minimum volumes of transactions captured, volumes captured or users, so Cielo would have no incentives to stop operating in other transaction capture channels or even explore similar partnerships. ; for Facebook, there were no incentives to hire only Cielo’s services ”, states the order.
The decision further points out that the agreement would not impose restrictions on competing accreditors to provide Facebook the same services provided by Cielo. “Such an operation configuration … theoretically removes the likelihood of exclusion of competitors or the possibility of reducing choices for the user.”
See the decision: