Mastercard, Visa Under Investigation by Turkish Competition Authority

MT Newswires Live11-21 20:20

Mastercard (MA) and Visa's (V) subsidiaries are under investigation by the Turkish Competition Authority over potential competition violations related to their operations in Turkey, the regulator said Thursday.

The investigation focuses on the companies' card scheme and digital wallet services, according to the regulator.

Additionally, the regulator will examine whether Mastercard has abused its dominant position in the digital wallet services market, particularly through pricing strategies that may hinder competitors' activities, multiple local media outlets reported Thursday.

Visa's alleged imposition of non-compete obligations on merchants, preventing them from sourcing services from rival providers, is also being looked into, according to the media reports.

Mastercard and Visa did not immediately respond to requests for comment from MT Newswires.

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