Credit Suisse, UBS Probed Over Alleged Payments Collusion
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UBS Group AG and Credit Suisse Group AG are among a number of Swiss companies being investigated by the local antitrust authority over whether they boycotted international mobile payment services to promote a domestic competitor.
The regulator said it suspects that the companies colluded in an effort to prefer Swiss payment provider Twint by agreeing not to release their credit cards for use by services like Apple Pay and Samsung Pay. As part of the investigation, which started Nov. 13, offices of the companies were raided, the antitrust authority known as Comco said in a statement Thursday.