ADVERTISEMENT

GVH closes investigation of MasterCard, OTP agreement

Analysis

Hungaryʼs Competition Office (GVH) ended the investigation of a contract between MasterCard and OTP Bank, signed in 2012, after the companies agreed to cancel part of the contract that restricted competition, GVH reported yesterday.

According to GVH, OTP originally pledged to use MasterCard products for more than 80% of the bank cards it issued, and MasterCard offered assistance to reach the target. GVH said the target exceeded the European Commissionʼs 80% limit for such cooperation, and the companies agreed to retroactively cancel the clause in the contract.

ADVERTISEMENT

PMI edges down to 52.2 in November Analysis

PMI edges down to 52.2 in November

Lawmakers approve residency permit for digital nomads Parliament

Lawmakers approve residency permit for digital nomads

Transformation Delineation - Microsoft country general manag... Podcasts

Transformation Delineation - Microsoft country general manag...

ITM, capital gov't agree on support for public transport City

ITM, capital gov't agree on support for public transport

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.