Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
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.
“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.