Payments
Mastercard linked to Swiss ATM scheme
February 16, 2021
Switzerland's Competition Commission is investigating Mastercard for the possible obstruction of Switzerland's National Cash Scheme, according to a report in Yahoo.
Switzerland's National Cash Scheme allows people to use their bank cards at any ATM operated by Swiss banks. rather than being limited to those run by their issuing bank. The scheme is a new initiative from SIX, the company that operates Switzerland's national stock exchange and other financial infrastructure in the country. SIX complained last year that Mastercard was potentially obstructing the rollout of the National Cash Scheme by refusing to link its cards to the new system.
COMCO is investigating whether Mastercard is abusing its dominant position in the market. As a precautionary measure, it has ordered banks that work with Mastercard to prepare for the possibility of bringing Mastercard cards onto the National Cash Scheme.
No guidance was given on the timing of the investigation. This publication reached out to Mastercard for a comment but as of press time, we have not received a comment.
