MercadoLibre Targets Banks in Complaint With Argentina's Competition Regulator

MercadoLibre has filed a complaint with Argentina’s competition regulator, alleging that Argentine banks are using an anti-competitive tactic against the company’s FinTech arm, Mercado Pago.In its legal complaint filed with the country’s National Commission in Defense of Competition, MercadoLibre accused the banks of “illegally concentrating” under one payments platform, Bloomberg reported Monday (Aug. 26).“The 36 banks that are part of the MODO wallet make up a cartel to avoid competing between its own dig ...