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The paper discusses vertical integration and mergers in the payments systems industry, focusing on the incentives for large merchants to expand into payment systems when market power is significant. It highlights the relationship between merchants and payment platforms, the impact of network effects, and the complexities of pricing and market power dynamics. The analysis concludes that while vertical integration can lower prices and enhance competition, it may also lead to legal challenges, as seen in cases

Author

cigelev419

Language

EN