LETA informed the KP Agency that the Board had received complaints and the application would be reviewed in the near future. In turn Swedbank representatives have not yet provided comments to LETA.
Monea Mārtiņš Kalniņš noted that Monea the application requires the FC to initiate proceedings for a breach of the prohibition set out in Section 13 of the Competition Law t Swedbank and, in finding a crime, to be liable for abuse of dominant premises.
He explained that in his daily work Monea it must be able to secure successful co-operation with commercial banks, which means that banks are essential partners. Since its inception, the company has been working with four major commercial banks in Latvia on a day-to-day basis. Swedbank, Bank Citadele, SEB banka a Bank Luminor Latvian branch. "Given that all the above banks provide Monea the same services, we have a great opportunity to compare and evaluate the differences between the prices used by the four banks, ”says Kalnins.
Kalnins emphasized that
compared to other banks Swedbank the service fee was increased 22 times.
At the same time Bank Citadele, SEB banka a Bank Luminor The price of one transaction per Latvian branch is decreasing. "Our normal business practice, as the number of transactions in any business area grows, is that transaction costs do not increase in a proportionate way, as well demonstrated by cooperation with other banks. T Swedbank, despite what is essential Monea The increase in the number of contact points in the banking systems, has increased the fee by around 22 times compared to 2017, where there is no objective justification, "Kalnins acknowledged. t
Given that each of the four banks Monea using the same services, Kalnins noted that all four banks had exact responsibilities and risks when serving Monea. The four commercial banks are also subject to the same regulatory framework. In addition, the same Monea the duty to eliminate the risk of money laundering and terrorist financing to the fullest. The fact that Monea (as in the case of banks) as a licensed paying establishment is overseen by the Financial and Capital Market Commission (FCMC), which has been validated and licensed to license Monea and its risk management procedures.
As Kalnins acknowledged, the bank, including Swedbank, the risk of working with them Monea the risk of money laundering and terrorist financing is the same as for the other three banks. So, Monea believe that there is no objective reason why Swedbank stabilization would be required Monea commission so high.
Payment app Monea 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 and only give the other person's telephone number at a lower cost.
Firmas.lv information suggests that in 2017 Monetizator working with a turnover of 22,272 euros, which is 4.7 times more than in 2016, but the losses decreased by 1.7 times and were 270 520 euro.
The company was registered in December 2013 and its share capital is 5648 euro. Monetizator Owners are a venture capital manager Expansion Capital Fund (25.18%), a company owned by Armands Garkans Nule 19 (18.04%), Martins Kalnins (15.44%), Ance Kalniņš (14.36%) Callidus Capital owned by SIA CCINV005 (9.68%), a company owned by Gatim Kokin Apoga Council (8.36%), ltd. QIX (5.77%), ltd. Event Works (2.14%) and SIA D8 Corporation (1.03%).