Swiss competition watchdog begins probe of Mastercard
April 20, 2021
Finance

Swiss competition watchdog begins probe of Mastercard

ZURICH (SWITZERLAND) – The Swiss Competition Commission (COMCO) has started a probe into Mastercard Inc’s alleged obstruction of SIX’s National Cash Scheme (NCS), a set of regulations regarding withdrawals and other transactions at ATMs of the bank, said the watchdog on Tuesday.

“The obstruction occurs because Mastercard refuses to co-badge the NCS on the new debit Mastercard,” COMCO 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.

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