Chile's constitutional court, or TC, rejected an appeal by card payment processor Transbank SA to reverse a previous ruling that instructed the company to revise its allegedly discriminatory fees, Diario Financiero reported.
The TC said the previous ruling, which was handed down by antitrust court TDLC, was not unconstitutional, as Transbank had claimed.
The TDLC in 2018 determined that fees charged by Transbank to pharmacies and supermarkets were abusive. It ordered Transbank to set a new rate that does not discriminate by category or items and is instead tied to the number of transactions in each trade.
Transbank responded by arguing that its debit and credit card fees are among the lowest in Latin America.
The case will now move to Chile's Supreme Court, which is expected to schedule hearings in the coming weeks.
Transbank was created in 1989 and is owned by a group of Chilean banks.
