2023-06-29 06:17:00
The Competition Commission (Comco) has opened two separate investigations once morest payment card providers Visa and Mastercard. The subject of the proceedings relates to interchange fees for transactions carried out in Switzerland.
The competition watchdog recalled having authorized an interchange fee only during the market introduction phase for the new Visa and Mastercard debit cards. “This phase is now over, as they have each reached a market share of 15%,” Comco said in a statement.
The amount of the interchange fee is the subject of these two separate surveys. When the cards were introduced, a commission of 12 centimes on average per transaction was authorized.
With Mastercard, “a quick agreement and a decision in the form of an amicable agreement are looming,” added Comco. But with Visa, ‘there are discrepancies that need to be further clarified’. The two American companies benefit from the presumption of innocence.
Responding to surveys, Visa said it wants to lower interchange fees on debit card payments in Switzerland by an average of one-third from July 1. This tariff level corresponds to that practiced “for a long time” in the European Union, she added in a press release sent to the AWP agency.
Visa emphasized that it does not generate revenue from interchange fees.
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