Turkey Probes Mastercard and Visa Over Payment Scheme Restrictions
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Turkey’s Competition Authority has launched an investigation into Mastercard and Visa over potential restrictions in the global card payment systems market. The probe focuses on whether the payment giants’ scheme rules are limiting Turkish payment service providers from serving international merchants.
In an official statement, the Turkish Competition Board noted that domestic payment institutions have been entering bilateral agreements with foreign-based businesses. These agreements allow Turkish consumers to process payments abroad without incurring Mastercard or Visa’s cross-border transaction fees, essentially localizing international payment operations.
Preliminary onsite inspections revealed concerns that Mastercard and Visa may have interfered with these agreements. The companies are suspected of invoking their scheme rules to pressure banks and disrupt partnerships between Turkish providers and international merchants.
The investigation will explore allegations that Mastercard and Visa are preventing Turkish fintechs from offering POS infrastructure to foreign merchants and sidelining alternative payment systems. The case may have significant implications for cross-border digital payments and competition in the global card industry.
