Síminn Pay ehf. acquisition of part of Rapyd Europe hf. operations

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• Case number: 9/2025
• Date: 11/3/2025
• Company:
  • Síminn Pay ehf.
  • Rapyd Europe ehf.
• Sectors:
  • Financial services
• Policy Area:
  • Mergers
• Summary

  The parties involved in the merger are Síminn Pay ehf. and Rapyd Europe hf. This merger involves Síminn Pay acquisition of Rapyd card loan portfolio. The relevant markets affected by this merger include the payment solutions market and the market for personal loans. The payment solutions market consists of consumer loans for financing purchases of goods and services, along with short-term loans for individuals such as overdrafts, credit card loans, and other short-term loan products. These are offered both by the merging entities and the three major commercial banks, as well as other companies operating in the same market. During the investigation, the Icelandic Competition Authority found no evidence suggesting the merger would result in a dominant market position or strengthen existing dominance. The three major commercial banks and Kvika (which operates Netgíró and Aur) provide significant competitive pressure, ensuring continued competition for the merged entity of Síminn Pay and Rapyd card loan services. Based on this analysis, the Authority concluded there were no grounds to intervene in the merger.