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Report: Brazilian antitrust watchdog could probe card payment market

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Report: Brazilian antitrust watchdog could probe card payment market

Brazilian antitrust watchdog Cade could soon open a probe into the country's card payment market and the vertical integration of banks, card operators and credit companies in the business, Valor Econômico reported.

Cade has studied the market for anti-competitive practices since 2015 but the regulator is reportedly expected to expand the investigation to a formal probe this year.

The focus of Cade is to see if big entities are blocking independent competitors that have newly arrived to the market by charging them for the use of networks and exclusivity deals, according to the publication.

However, sufficient evidence of wrongdoing has reportedly not surfaced for a full-scale Cade inquiry which will reportedly lead the regulator to conduct an administrative process to collect information and carry out preventive measures, the publication said.

In April 2017, Cade approved agreements with Itaú Unibanco Holding SA and its subsidiaries, Rede and Hipercard, regarding investigations of the companies' anti-competitive practices in the electronic payment market.