The Singaporean Competition Authority issues its decision finding that the worldwide MIF system implemented by a multinational financial service company is not anti-competitive under Singapore competition law (Visa International)

On 18 September 2013, the Competition Commission of Singapore (the “CCS”) published its decision of 3 September 2013 relating to its assessment under Section 34 of the Competition Act, Chapter 50B of Singapore (the “Act”) of the Multilateral Interchange Fee (“MIF”) system (the “Decision”), as notified by Visa International Service Association (“Visa International”) to the CCS on 1 January 2006 pursuant to Section 44 of the Act. Section 34 prohibits agreements which have as their object or effect the prevention, restriction or distortion of competition within Singapore. The CCS found in the Decision that the MIF system did not result in an appreciable effect on competition on any relevant market in Singapore. By way of background, the notified MIF system is used to determine the default level

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Kirstie Nicholson, The Singaporean Competition Authority issues its decision finding that the worldwide MIF system implemented by a multinational financial service company is not anti-competitive under Singapore competition law (Visa International), 18 September 2013, e-Competitions September 2013, Art. N° 60215

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