According to the allegations, the global card issuer substantially lessened competition in the supply of debit card acceptance services, between November 2017 and November 2020. The regulator claims that Mastercard abused its privileged market position to ranker higher in the credit card acceptance services under the Reserve Bank of Australia’s (RBA) least-cost routing initiative.
The initiative aimed to offer merchants the possibility to choose their preferred debit card network that would process their contactless dual-network debit card payments and wanted to increase competition while reducing payments costs associated with processing debit card payments for businesses.
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