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Mastercard Faces Swiss Probe Into Possible Obstruction Of National Cash Scheme

February 16, 2021 — 05:00 am EST

Written by RTTNews.com for RTTNews ->

(RTTNews) - Payments company Mastercard Inc. (MA) is facing an investigation by Swiss Competition Commission or COMCO, Reuters reported.

The investigation is into possible obstruction of SIX's National Cash Scheme or NCS, a set of rules for withdrawals and other transactions at banks' cash machines.

According to the agency, the obstruction occurs because Mastercard refuses to co-badge the NCS on the new debit Mastercard.

The watchdog reportedly said, "COMCO is now investigating whether Mastercard has abused its position as a dominant company. Precautionary measures were taken for the duration of the investigation."

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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