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Tuesday, 16 July 2019

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News

13 May 2013

The Australian Competition and Consumer Commission (ACCC) is suing Visa

The Australian Competition and Consumer Commission (ACCC) is suing Visa after accusing the network of misusing its market power to distort competing dynamic currency conversion (DCC) services. Such conversion services allow consumers to choose whether they complete a transaction in their home currency or in the local one of the POS terminal or ATM they are using.

In 2010 Visa announced rules to stop the expansion of supply of DCC services by rival providers on POS transactions on its network, according to the ACCC.

http://www.paymentscardsandmobile.com/



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