13:55 GMT08 March 2021
Listen Live
    Get short URL
    0 81

    ZURICH (Sputnik) - The Swiss antitrust watchdog WEKO said on Tuesday that a probe was underway into MasterCard after a local competitor accused it of thwarting the rollout of a nationwide ATM scheme.

    The Alpine nation’s financial services operator SIX said MasterCard had refused to link its debit cards to the National Cash Scheme (NCS), which will allow any card to be used at any ATM in the country.

    "WEKO is now investigating whether MasterCard has abused its dominant position in the market. It took precautionary measures pending the end of the investigation," a press release read.

    The NCS will allow holders of bank cards issued by Swiss banks to deposit and withdraw cash and check the balance through any ATM.

    WEKO said that as part of interim measures it had ordered banks to prepare to add MasterCard cards to the NCS. This decision can be appealed in the federal administrative court, it added.

    probe, MasterCard, Switzerland
    Community standardsDiscussion