Worldline, born out of French IT company Atos, sought European Commission approval for the deal on Aug. 12, according to a filing on the EU competition enforcer's website.

The Commission can either clear the deal with or without conditions or it can open a four-month long investigation if it has serious concerns.

The payments sector has seen a wave of consolidation in recent months as companies seek a foothold in digital transactions, prompted in part by the growing use of smartphone-based online payments like Apple's Apple Pay and WeChat.

(Reporting by Foo Yun Chee; Editing by Kirsten Donovan)