CP informed that the Board had received complaints and the request would be reviewed in the near future. But Swedbank has not commented yet.
The spokesman for Monea Martins Kalnins noted that "Monea" in the request asks CC to initiate an alleged violation of the prohibition in Article 13 of the Competition Act in Swedbank operations and to impose liability for abuse of dominant position when a violation is found.
He explained that the daily operation of Monea should be able to ensure successful cooperation with commercial banks, so that banks will be a key partner. Since its establishment, the company has been cooperating with four major commercial banks in Latvia – Swedbank, Citadel Banka, SEB banka and Luminor Bank in Latvia. "Given that all of the banks listed above offer similar services to Menia, we have a great opportunity to compare and assess the differences between the prices applied by the four banks," Kalinins said.
Kalnins confirmed that Swedenbank has raised service charges by 22 times compared to other banks. At the same time, the price of one of the transactions in the Latvian branch of Citadele banka, SEB banka and Luminor Bank declined. "The usual business practices, with the growth of transaction volume in any area of business, that transaction costs do not increase proportionately, as evidenced by cooperation with other banks." Swedenbank, despite the significant increase in the number of connections between Mina and banking systems, Fees increased almost 22 times compared to 2017, for which there is no objective justification, "acknowledged Kalnišš.
Since Monea uses the same services in all four banks, Kalnins noted that the four banks have similar responsibilities and risks in the Monea service. All four commercial banks are subject to the same regulatory framework. In addition, Monea itself has a duty to reduce the risk of money laundering and terrorist financing. It should also be borne in mind that Monea (as in the case of banks), as a licensed payment institution, is supervised by the Capital Market and Capital Market Commission (FCMC), which has verified and licensed the Monea process and coordinated risk management procedures. .
As Kalnins acknowledged, the risk of banks, including Swedbank, in cooperation with Monea from the risk of money laundering and terrorism financing are the same for the other three banks. Thus, in Monya's opinion, there is no objective reason for Swedbank to need to appoint Monya as a high commission.
Monea Payment is a pay-per-view application that allows you to claim and transfer small amounts of money between private bank accounts in different banks in less than a minute at a lower cost, as well as entering someone else's phone.
The "Firmas.lv" information indicates that the "Monetizator" in 2017 had a sales value of 22,272 euros, which is 4.7 times more than in 2016, but losses fell 1.7 times to 270 520 euros.
The company was registered in December 2013 with a capital of € 5648. The owners of Monetizator are venture capital manager "Expansion Capital fund AIF" (25.18%), "Nule 19" (18%) owned by Armands Garkans, Märtišš Kalnišš (15.44%), Ance Kalniaa (14, 36%), CCINV005 Owned by Callidus Capital (10%), Märtišš Brrzišš (8.45%), Gatiks Kokins SIA owns Apoga konsultācijas (8.36%), SIA QIX (6% D8 Corporation "Limited