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Visa undertakes to address competition concerns over debit card payments

Date Time
Visa undertakes to address competition concerns over debit card payments
The ACCC has accepted a court-enforceable undertaking from Visa AP (Australia) Pty Ltd and Visa Worldwide Pte Limited (together, Visa) in relation to concerns that Visa may have limited competition in relation to debit card acceptance through its dealings with large merchants.
“The ACCC was concerned that Visa’s strong market position in the credit card acceptance market could be leveraged to limit competition in the debit card acceptance market by tying the offer of cheaper strategic merchant rates for credit card transactions to a commitment from the merchant to process Visa branded dual network debit card transactions via the Visa network and not through eftpos,” ACCC Chair Rod Sims said.

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