The Swiss competition watchdog Swiss Competition Commission (COMCO) has opened a probe to investigate worldwide used financial service company MasterCard Inc. (MA) over a possible obstruction of SIX’s National Cash Scheme (NCS).
The NCS is a group of rules for withdrawals among other transactions conducted at the cash machines at the banks.
“The obstruction occurs because Mastercard refuses to co-badge the NCS on the new debit Mastercard,” said the Swiss watchdog while giving reference to the practice of adding an additional payment application or brand onto a debit card.
The watchdog is looking into the matter to establish whether the United States based company participated in any wrong doing.
“COMCO is now investigating whether Mastercard has abused its position as a dominant company. Precautionary measures were taken for the duration of the investigation,” said COMCO.