Brazil Suspends VisaNet's Exclusivity Ban

VisaNet Says Brazil Antitrust Agency Suspends Exclusivity Ban - Bloomberg.com

VisaNet Says Brazil Antitrust Agency Suspends Exclusivity Ban

By Laura Price



(Bloomberg) -- Cia. Brasileira de Meios de Pagamento, the credit-card payment processor known as VisaNet, said Brazil’s antitrust regulator suspended a ban on exclusivity imposed by the Justice Ministry.



SDE, as the antitrust arm of the Justice Ministry is known, started a probe against VisaNet, Visa International Service Association and Visa do Brasil Empreendimentos Ltda on Aug. 6. The antitrust unit said VisaNet created exclusivity by requiring businesses to use it to be able to accept cards carrying the Visa logo.



Cade, as the antitrust regulator is known, suspended the preventive measure taken earlier this month by SDE until Cade judges the case for possible anti-competitive practices, VisaNet said in a statement to Brazil’s securities regulator late yesterday. Cade is due to judge the case on Sept. 16, VisaNet said.

VisaNet, SDE, Cade