Retailers accuse Twint of market abuse – complaint filed with Weko
Christian Beutler / Keystone
lbs . The Swiss Retail Federation (SRF) has filed a complaint against the payment service provider Twint with the Secretariat of the Competition Commission (Weko) in Bern. They accuse Twint of abusing a dominant market position and entering into unlawful agreements with participating banks.
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Twint recorded around 773 million transactions in 2024 – an increase of 30 percent over the previous year. The service is convenient for consumers, but increasingly costly for many businesses.
According to SRF, the transaction fees of 1.3 percent of the amount – partly supplemented by flat-rate surcharges – represent a disproportionate burden, especially compared to debit card payments, for which SRF considers a level of 0.1 to 0.2 percent to be appropriate.
According to the Swiss Retail Federation, which represents over 1,650 retailers, Twint is thus moving away from its original claim of being a cheaper alternative to credit cards. The Competition Commission is now expected to examine whether the fee practice is permissible under antitrust law. Retail Federation Director Dagmar Jenni calls it a "fundamental piece of the puzzle in the fight for fairer payment transactions."
More to follow.
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