Switzerland investigates UBS, Credit Suisse over Apple Pay boycott

“Switzerland has launched an investigation into a number of its financial companies, including big banks like Credit Suisse and UBS” Spriha Srivastava reports for CNBC. “WEKO, the country’s competition watchdog, said Thursday that it will investigate some of the biggest financial firms for a suspected boycott of mobile payment solutions such as Apple Pay.”
“The list of firms to be investigated includes Aduno Holding, Postfinance, Swisscard and Swiss units of Credit Suisse and UBS, WEKO said,” Srivastava reports. “The competition watchdog also added that raids were carried out at offices of the companies being investigated.”
“Local media reports suggest that the investigation is aimed at clarifying whether several Swiss financial institutions have reached an agreement to boycott mobile payment solutions from international providers such as Apple Pay,” Srivastava reports. “‘We do not comment on ongoing investigations, but would like to point out that in 2016 we tried to reach an agreement with Apple Pay regarding the use of UBS credit cards. Although we have offered several alternatives, unfortunately no agreement could be reached,’ UBS said in a statement.”
Read more in the full article here.
MacDailyNews Take: Other banks and financial companies seem to have been able to reach deals with Apple, once they stopped asking for craziness they’d never get like access to iPhone’s NFC chip or similar stupidities that would destroy the security of Apple devices.
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