The Mexican Competition Authority establishes that there are not effective competition conditions in the card payment system

COFECE’s Preliminary Investigative Opinion establishes that there are not effective competition conditions in the card payment system in the Mexican territory* COFECE observed the probable existence of barriers to competition that prevent the entry and increase the costs of new participants in this market, and moreover, that hinder innovation, investment to address operational and security problems, and increase the costs for banks that affiliate businesses. The lack of competition has led to high fees that hinder bancarization of businesses that could accept card payments.The preliminary investigative opinion proposes, among other measures, that banks divest their shares in Prosa and E-Global.In the following stage of this process, interested economic agents may present statements

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Mexican Competition Authority, The Mexican Competition Authority establishes that there are not effective competition conditions in the card payment system, 16 December 2020, e-Competitions December 2020, Art. N° 98501

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