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Switzerland: Institutions raided over mobile pay deals

By  |  November 15, 2018

The Swiss Competition Commission has searched the premises of Credit Suisse and UBS, PostFinance and the credit card companies Swisscard and Aduno for allegedly boycotting mobile payment methods such as Apple Pay and Samsung Pay, reported Reuters.

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    The competition authority announced it was investigating whether the banks, including state-owned PostFinance, colluded with local payments providers not to use the mobile payment systems of the big tech companies.

    “There is the suspicion that the companies agreed not to make their credit cards available for use with Apple Pay and Samsung Pay, in order to favor the Swiss solution TWINT,” Competition Commission WEKO announced in a statement on Thursday, November 15.

     Full Content: Reuters
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