Visa accepts-court enforceable undertaking to address competition concerns

The ACCC has accepted a court enforceable undertaking from Visa to address competition concerns in its dealings with merchants. Visa, while acknowledging the ACCC’s concerns, made no admissions of any breach of competition laws.

Rod Sims noted that “Visa’s undertaking means that it cannot offer strategic merchant rates for credit card payments to merchants on condition that the merchant processes debit card payments through the Visa network“.

View ACCC media release.

View undertaking.