Visa, page-77

Hi @RIDGEWOOD, See VISA's own announcement: Adds credibility to ISX announcement on 24 May 2020 concerning anti-competitive issues re: Visa which ISX had difficulty getting ASX to release on MAP:

"The Company is in the process of preparing submissions to competition regulators in both Australia and the European Union regarding the impact of proposed rule changes by Visa.

The Company has, in the last 72 hours, already made a preliminary submission to a key European regulator.The Company's position is that the proposed Visa rules that take effect in October this year will restrict trade and competition.

The proposed Visa rules also impose further competitive restrictions on SDWOs including not allowing the SDWO to issue an account number to a retail customer that is not a Visa account number, including basic Bank Account Numbers (BBANs) and International Bank Account Numbers (IBANs). Visa requiring that only Visa Primary Account Numbers (PANs) be used to reference a retail customer means that other payment and card schemes cannot be involved in a SDWO which incorporates Visa.

Further proposed rule changes by Visa include online video gaming being re-categorised, which will require ISX to have a US$100m NTA to service this sector (and that of SDWO at the same time) as a card acquirer.