52003XC1220(03)

Application for negative clearance/Notification in Accordance with Form A/B

Case COMP/D1/38.827

(2003/C 311/05)

(Text with EEA relevance)

1. On 1 September 2003, the Commission received from Società Per I Servizi Bancari (SSB Spa), Banksys SA and Interpay Nederland BV, an application for negative clearance with regard to Article 81(1) EC or notification for an exemption pursuant to Article 81(3) EC, of an agreement relating to the creation of a joint venture for international credit and international debit cards processing services in Europe.

2. The purpose of the notified joint venture agreement is twofold:

- To develop the financial services relating to the processing of cards and to provide these services, namely the issuing and acquiring of international credit and international debit cards, to third parties clients in new geographical markets outside the home markets (i.e.: Belgium, Italy and the Netherlands) of the founding shareholders;

- to act as a subcontractor of the parents for the processing of international credit and international debit payment cards operations which the founding shareholders supply as part of their financial services to their customers in their national markets; the parents have agreed not to compete with the JV leaving the provision of subcontracting services in new geographic markets exclusively to the JV.

3. The JV Company shall be owned 24,5 % by Banksys, 24,5 % by Interpay and 51 % by SSB. It shall be incorporated under the form of a limited company by shares under the Belgian law with headquarters in Brussels.

4. Following a preliminary analysis, the Commission considers that the notified joint venture is not full function and therefore might be covered by Regulation No 17.

5. The Commission invites all interested third parties to submit any observations they may have on the notified agreement.

6. Observations must reach the Commission not later than thirty days following the date of this publication. They can be sent by fax (No (32-2) 295 01 28) or by mail, under reference COMP/D1/38.827 SSB, Banksys, Interpay to: European Commission Directorate-General for Competition

Directorate D

Unit D-1 (Financial Services)

B - 1049 Brussels.