Dutch regulator ACM has called on online platforms to make sure they are open to alternative payment providers. A level playing field is needed in the market, according to a report on big tech companies active in the payment market, commissioned by the finance ministry.

The ACM study looked at major players like Apple, Facebook, Amazon and Ant Group (Alibaba). The regulator said these platforms can play an innovative role in the market if they are open to competing payment services, the same as banks must do. However, additional EU regulation may be needed to achieve a competitive market.

The study outlines the current market conditions and looks at expected future developments, both online and in shops. The big tech companies still have a limited position on the payments market, but the ACM expects this to grow through acquisitions and cooperation. 

The tech companies increasingly offer their own payment methods, both online and in shops. In shops, there are more and more ways to pay contactless, including with smartphones and wearables. These devices should support the option to use different payment apps, the ACM said. This means the tech companies opening up their hardware and software to other providers.

The tech companies are not yet covered by the main EU legislation on access to payment systems, the PSD2 directive. The ACM regulator recommends amending the directive so that tech companies which play a facilitating role must comply with the rules. They serve as a gatekeeper for payments that could result in limited choices for consumers and reduced competition.

Another potential regulatory change is adapting competition rules to allow ex ante regulation of dominant platforms. This could force them to open up their platforms, before any significant harm on the market.