WTO | dispute settlement – the disputes – DS413

Did you know that all credit card payments in China denominated in local currency are processed by only one provider? (China Union Pay). Visa and MC are only allowed to process payments denominated in foreign currency. I first heard about this monopoly situation in 2005 and the WTO just released its first review on the matter. This is an unusual situation in one country, but it is worrysome that it happened precisely in the largest country in the globe.

via WTO | dispute settlement – the disputes – DS413.

Advertisements
This entry was posted in competition policy, credit cards, Mobile payments, Regulation and tagged . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s