The Indian National Company Law Appellate Tribunal upholds the Competition Authority’s order against an American electronic payment supplier for abusing its dominant position in the markets for POS terminals and electronic ticketing machines (Verifone)

NCLAT upholds CCI’s orders against Verifone for abuse of dominance in the market for Point of Sale (“POS”) terminals and Electronic Ticketing Machines (“ETM”) in India.* Key points Verifone abused its position of dominance in the market for POS and ETM by imposing restrictive conditions within the agreements for the Software Development Kit (“SDK”) provided with the POS terminals and ETMs. This forced buyers to avail value added services for the customization of POS terminals and ETMs solely from Verifone, thereby foreclosing the market from Value Added Service (“VAS”)