The Competition Commission of Mauritius has ordered Visa and MasterCard to cap their interchange fees after finding the credit card issuers abused their dominance by setting unreasonably high rates.
Following an inquiry in 2009, the regulator launched an in-depth investigation. In 2013, they determined that a restrictive business practice was occurring with in the payments card market.
In response, Visa has proposed to adopt a multifaceted approach with the collaboration of the Competition Commission to address the issue.
Full Content: CCM
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