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Trial in a case alleging Mastercard misused its market power by striking deals with retailers to defend revenues against EFTPOS routing has heard external competition lawyers suggested removing the word 'routing' from its contract with Woolworths.
Mastercard risked losing half its revenue from retail interchange fees as a result of the Reserve Bank's least-cost routing initiative, and struck deals with top retailers to defend its core business, a court was told Wednesday.
A trial judge has heard that Mastercard's top Australian executives discussed stripping Woolworths of strategic merchant status if the supermarket giant routed customer transactions through the cheaper EFTPOS network.
Mastercard's Australia boss was anxious to sign a deal with Woolworths on payments processing after learning that Coles had chosen to route all debit transactions through the cheaper EFTPOS network, a court has heard.
Mastercard considered threatening Coles with losing its discounted interchange fees to rival Woolworths if the supermarket chain re-routed customer debit and credit transactions away from the payments giant, a trial judge has heard in the ACCC's misuse of market power case.
Mastercard's APAC head was "perfectly comfortable" with the threat of removal of discounted interchange rates to cut a deal with Coles to route transactions through its payment network, a court has heard.
US-based study help platform Chegg has copped a $500,000 penalty after the Tertiary Education Quality and Standards Agency found the site helped Monash University students cheat.
Meal delivery companies Hello Fresh and Youfoodz say the consumer regulator needs to provide more details in its cases alleging customers were charged a fee after cancelling subscriptions.
Retail Food Group has agreed to a settlement worth $10 million in ACCC proceedings alleging the franchise giant misled purchasers of loss-making stores about the viability of its stores.
The Australian Competition and Consumer Commission has appealed a judgment that found its case alleging Retail Foods Group misled franchisees should be run using a sample of stores.