The Competition Authority has launched an investigation into Visa and Mastercard.

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The Competition Authority has decided to initiate an investigation against Visa and Mastercard, which operate in the global payment systems sector.

According to the announcement on the Competition Authority's website, an initial investigation was concluded regarding the allegation that Mastercard and Visa, which provide services in the payment systems and digital wallet services markets in Turkey, violated the Law on the Protection of Competition through various exclusionary actions.

INVESTIGATION OF LAW VIOLATION

Accordingly, an investigation has been decided to be opened regarding the economic integrity consisting of Mastercard Europe SA, which is under the control of Mastercard Incorporated, the Mastercard Europe SA Istanbul Liaison Office, and Masterpass Technology Services Inc., as well as Visa Europe Limited, Visa Europe Services LLC, and Visa Europe Services LLC Turkey Representative Office, which are under the control of Visa Inc., to determine whether they violated the law through various exclusionary actions in the payment systems and digital wallet services markets in which they operate.

IMPACT ON COMPETITORS UNDER SCRUTINY

As part of the investigation, the Authority will examine whether the discount/incentive systems developed separately by Mastercard and Visa, which hold the majority of bank, credit, and prepaid cards exported in Turkey, in the context of their vertical relationships with card-issuing enterprises in the payment services market, create a risk of market closure to competitors, either individually or cumulatively.

WAS DOMINANT POSITION ABUSED?

Within the scope of the review, it will also be investigated whether Visa's obligation not to procure services from competing providers imposed on its member merchants in the digital wallet services market has potential anti-competitive effects in the market, and whether Mastercard has abused its dominant position through various actions that would hinder the activities of its competitors, primarily through predatory pricing in the digital wallet services market.

On the other hand, the investigation decisions taken by the Authority do not imply that the enterprises or business associations under investigation have violated the law and are facing or will face sanctions.