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Swiss competition agency opens probe of Mastercard

Swiss competition agency opens probe of Mastercard

FILE PHOTO: A Mastercard logo is seen on a credit card in this picture illustration August 30, 2017. REUTERS/Thomas White/File Photo

ZURICH: The Swiss Competition Commission (COMCO) has opened an investigation of Mastercard into possible obstruction of SIX's National Cash Scheme (NCS), a set of rules for withdrawals and other transactions at banks' cash machines, the watchdog said on Tuesday (Feb 16).

"The obstruction occurs because Mastercard refuses to co-badge the NCS on the new debit Mastercard," the watchdog said in a statement, referring to the practice of adding a second payment application or brand onto a debit card.

"COMCO is now investigating whether Mastercard has abused its position as a dominant company. Precautionary measures were taken for the duration of the investigation," it said.

Source: Reuters

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