News

India investigating anti-competition complaint against ACI

September 16, 2013

Acting on a complaint by Chennai-based Financial Software and System Pvt. Ltd., the Competition Commission of India has launched an investigation into competitive practices of the Indian arm of U.S.-based ACI Worldwide.

According to a report by Live Mint quoting a CCI statement, FSS alleges that ACI has "abused their dominance by imposing unfair conditions in the purchase or sale of goods or services through exclusive supply arrangements, limiting and restricting the technical or scientific development in the market ... "

ACI banking and payments software products facilitate ATM and POS communication with an FI's core banking network.

CCI wrote that "prima facie the conduct of the respondents amounts to 'tie-in arrangement' and 'refusal to deal," and said given ACI's market share, these arrangements were likely to have a negative effect on competition. 

CCI will complete the investigation in 60 days, the story said.

Read more about regulatory issues.