Catenaa, Monday, December 02, 2024 – The Turkiye Competition Authority has launched an investigation into Visa and Mastercard, two global payment giants, to assess potential violations of competition laws.
The Competition Authority emphasized that the decision to open the investigation does not imply that Visa or Mastercard have violated any laws or will face penalties.
The probe focuses on whether the companies’ discount and incentive systems for credit, debit, and prepaid card issuance create exclusivity agreements with banks, potentially limiting market access for competitors.
The investigation will also examine whether these practices, either independently or in combination, could lead to market foreclosure in Turkey’s card services sector.
In addition, the Competition Authority is exploring allegations that Visa may be restricting merchants from partnering with competing digital wallet providers, raising concerns over anti-competitive behavior in the digital wallet services market.
Furthermore, the inquiry will evaluate whether Mastercard has been involved in predatory pricing or other actions that could suppress competition and abuse its dominant position in the sector.
The investigation is ongoing, and the authority will base its findings on the evidence gathered during the inquiry.
