Oct 17 (Reuters) – The U.S. Federal Commerce Fee is investigating whether or not Visa Inc (V.N) and Mastercard Inc’s (MA.N) safety tokens limit debit card routing competitors on on-line funds, the Wall Avenue Journal reported on Monday, citing individuals conversant in the matter.
The bank card giants are already being probed by the Fee for allegedly blocking retailers from routing funds over different debit card networks, the report stated.
The FTC has expanded its focus in latest months to look at whether or not the businesses’ safety expertise, which replaces delicate account info with a singular digital identifier referred to as a token, additional stifles processing debit card transactions on rival networks, the report stated.
Each Visa and Mastercard have confronted rising scrutiny for his or her dominance within the bank card market. Visa, in 2019, needed to settle a European Union antitrust probe over card charges.
Visa and Mastercard declined to answer Reuters’ request for remark.
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Reporting by Niket Nishant in Bengaluru; Enhancing by Shinjini Ganguli
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