The Investigation Conducted on the Economic Unity Composed of Mastercard Europe SA İstanbul Liason Office, Masterpass Teknoloji Hizmetleri AŞ (MASTERPASS), Mastercard Europe SA, Mastercard/Europay U.K. Limited, Global Mastercard Holdings LP, Mastercard International Incorporated, Mastercard A&M Investment Holdings LLC and Mastercard Incorporated, and on the Economic Unity Composed of Visa Europe Services LLC Türkiye Representative Office, Visa Europe Services LLC, Visa Europe Limited and Visa Inc. Concluded through the Commitments Procedure

With the decision dated 02.04.2026 and numbered 26-11/351-133, the Competition Board has ruled that the commitments submitted in order to eliminate the competitive issues identified within the context of the investigation launched by the Board decision dated 24.10.2024 and numbered 24-43/1015-M on MASTERCARD and VISA, both of which offer services in the field of payment systems at the global scale, were proportionate to the competition problems, sufficient to remove those problems, implementable in a short period and effectively applicable, consequently rendering the commitments concerned binding for the undertakings under investigation and terminating the ongoing investigation.

The investigation found a set of competitive problems in relation to the activities of MASTERCARD and VISA in the scheme services market as well as the activities MASTERCARD engaged in the digital wallet services market through MASTERPASS, which obstructed the operations of the competitors in the relevant markets.

Over the past twenty years, technological advancements, changes in user preferences, and developments in legal/regulatory frameworks ensured that card payments have increasingly been used by consumers, becoming the preferred method among payment options. In the field of card payments, there is an ecosystem composed of card schemes, banks, non-bank financial actors, businesses and consumers. In this ecosystem, card payment systems/card schemes play an important role by providing the payment infrastructure to ensure that card payments are carried out in a sound, secure, fast, and seamless manner. In this context, card payment systems/card schemes, which enable all actors to communicate and carry out transactions and which provide electronic networks, stand out as structures that set out the organizational and operational framework as well as the standards and rules for card-based transactions, establishing the connection between card-issuing and card-accepting institutions.

Digital wallets, on the other hand, are critical tools in the payment services ecosystem, which both improve user experience and contribute to the secure and traceable execution of financial transactions. These tools allow collecting payment tools under a single platform, decreasing transaction costs while increasing financial inclusion. In fact, it can be said that digital wallets reduce the effort required to carry sufficient amounts of money for payments and to handle cash. Moreover, in light of the fact that one of the most important factors when shopping online is to process the payment securely and successfully, it may be said that the importance of digital wallet services has been increasing with an aim to maximize the rate of success.

Within the scope of the investigation conducted, MASTERCARD and VISA submitted various commitments concerning the discounts/incentives for the services they provide to their buyers, intended to eliminate the competition problems in the scheme services market. The essence of these commitments lies in making the discounts and incentives offered more comprehensible, objective, and proportionate. In addition, MASTERCARD and VISA also submitted commitments to improve the interchange commission rates for cross-border transactions. Regarding this matter, MASTERCARD and VISA will directly contact their relevant business partners to share the necessary details. These commitments are expected to address competition concerns on a forward-looking basis, generate positive effects for the Turkish banking system, and consequently contribute to the growth of the Turkish economy and social welfare.

Furthermore, in order to address the competition problems in the digital wallet services market, MASTERCARD also submitted various commitments regarding product positioning and campaign terms in its contractual and de facto relationships with merchants that receive digital wallet services from MASTERCARD. This is expected to increase the variety of providers from which consumers engaging in e-commerce can obtain digital wallet services, and to ensure that these providers will be visible on payment screens under fairer competitive conditions.

With the commitments offered, it is anticipated that a more competitive market structure will be established in Türkiye in the increasingly important field of card payments, thereby generating economic benefits for all players within the ecosystem. 

Respectfully announced to the public.