- Chilean Senate recently approved a project that overhauls the structure of the local acquiring market;
- Transbank has been enjoying the acquirer monopoly in Chile since the late 1980s.
Mercado Pago, Mercado Libre‘s fintech arm, had its query rejected by Chilean Tribunal for the Defense of Free Competition (TDLC, in Spanish).
The fintech needs to sign a contract with Transbank to start its cards operations in Chile, and it found the organization’s fees too high. But TDLC declared inadmissible the request of Mercado Libre‘s financial subsidiary to consult its interconnection contract to the company’s network controlled by the bank. TDLC’s full statement is available in Spanish here.
Sought by LABS, Mercado Libre said it will not comment on the matter for now.
