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Representatives of the store, customers, sub-buyers and trademarks of the cards were against the document. The court has 15 working days to make a decision.
This Thursday, the first hearing at the Free Competition Tribunal (TDLC) was held in the midst of the health crisis facing the country for which the use of virtual platforms was announced.
In particular, the out-of-court agreement reached by the National Economic Prosecutor’s Office (FNE) with Transbank at the beginning of this month was revised, which includes a new rate system that avoids the increase in commissions for enterprises, and which allows the transition to a new model to be completed. “Four parts.”
According to Alejandro Domić, a member of the FNE Antitrust Division, the agreement also allows you to limit the commission that a company supporting a four-way turn may charge and which will temporarily assume any possible increases that exist. for some enterprises completely, and then gradually.
According to Transbank spokesman Nicole Nehme of FerradaNehme Abogados, the agreement protects free competition. In turn, the company promised to make the necessary economic efforts to ensure an adequate transition to the four-part model.
“The non-judicial agreement complements the issue of free competition through a partnership between the FNE, representing common interests, and Transbank,” said the lawyer, who also assured that as soon as the information is received from service providers. Payment (PSP), the company will deliver the proposal to the prosecutor about the conditions for this segment.
Refusal of a payment ecosystem
One of the allegations that rejected the agreement was Walmart Chile’s statement, submitted by lawyer Carla Bordoli, of Bordoli, Doren Abogados. The retailer’s representative noted that the agreement between FNU and Transbank “does not impede free competition in the market”.
The foregoing, he explained, because the rates are set for enterprises that are “absolutely far from the requirements of efficiency, objectivity, motivation and, above all, reasonableness established by the Supreme Court in its latest resolution on these rates, which was published three months ago.” ,
“We are convinced, based on our international experience, that this agreement is detrimental to trade, which will continue to be fraught with high costs for credit and debit card transactions, which inevitably affect the final price that consumers will pay, mainly affecting customers, which they use cash as a means of payment, “the company said.
Another bidder, Farmacias Ahumada, also rejected the submission because the company, he said, could suffer a subsequent unjustified increase.
“This agreement is not reliable and complete enough to prevent the unreasonable increase in business rates in Transbank tomorrow or direct discrimination between the various participants participating in the model,” the representative said. Pharmacy Ahumad, Julio Pellegrini, Pellegrini and Zia.
From FinTech Chile, a member of the sub-purchasers segment, they indicated that “we do not consider it expedient for TDLC to approve this extrajudicial agreement, since in general terms it does not serve the country. The reality is that we need a four-part model that fulfills its original promise: higher competition and lower rates for trade and citizenship, ”said Angel Sierra, its executive director.
Multicaja’s lawyer, Javier Veloso, of Contreras Velozo Abogados, noted that the agreement is “incomplete” because it does not include all relevant participants in the system and impedes the entry of competition into Transbank, he said.
Francisco Valdivia, general manager of Visa Chile, criticized that not all segments were put on the table and that the terms stipulated in the agreement do not allow an adequate transition to the four-part model, for which he also asked TDLC: refusal.
The court has 15 working days to make a decision on approval or rejection of the document without the possibility of making changes.
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