FTC letter to Representative Welch on Standard Setting for Payment Security Technologies

United States of America
June 25, 2018

The Honorable Peter Welch
U.S. House of Representatives
Washington, D.C. 20515

Dear Representative Welch:

Thank you for your letter to the Federal Trade Commission calling for vigilant antitrust oversight of standard-setting activities involving the development of mobile payment and payment security technologies. We appreciate receiving your views and hearing your concerns in relation to these developing markets. The financial services industry comprises a significant portion of the United States economy, and the Commission takes seriously the risk that major financial services incumbents might utilize their positions to impose anticompetitive restraints during a standard-setting process. […]

Read the rest of the FTC’s letter here.