The Swiss Competition Commission (Comco) has announced the opening of two parallel investigations into multinational credit card companies Visa and Mastercard to analyze their commissions on transactions on Swiss territory.
The national competition authority claims that these commissions were only authorized during the introductory phase of both companies’ new debit cards in Switzerland and that phase has now ended.
In that introduction phase, which Comco considers complete because both Visa and Mastercard have a market share of more than 15%, transaction costs averaged 12 cents, the Swiss news agency AWP reported.
Comco said it was already in the process of reaching an out-of-court settlement with Mastercard to resolve the issue, while there are still “disagreements that need to be clarified” with Visa.
Source: DN
