The Namibian Competition Commission (NaCC) has secured a settlement of N$319,650 from the Payment Association of Namibia (PAN) following a comprehensive investigation into alleged anti-competitive practices. The investigation, launched in March 2022, focused on PAN’s role in coordinating the Payment Clearing House Card Schedule (PCH Card Schedule), which set multilateral interchange fees between major commercial banks.

The Commission found that PAN, alongside banks including FNB, Bank Windhoek, Standard Bank, and Nedbank, had engaged in horizontal price-fixing by agreeing to a standardized fee structure from as early as 2014 until 2020. This conduct, deemed a per se violation of the Competition Act, eliminated bilateral negotiations and undermined free market dynamics.

PAN admitted to an unintended contravention of the Act. The settlement includes a N$299,650 pecuniary penalty and a N$20,000 contribution towards the NaCC’s investigation costs. The agreement is pending final confirmation by the High Court of Namibia. This case (NaCC Case Number 2022FEB0003COMP) reinforces the Commission’s role as a vigilant regulator and serves as a stark reminder to all sector stakeholders to ensure compliance with competition laws.