Summary
- Mercado Libre filed a complaint against 36 banks in Argentina for cartelisation and coordinated practices aimed at harming the fintech industry.
- The complaint is centered around a digital wallet called MODO jointly promoted by the banks, believed to violate antitrust laws.
- The company accuses the banks of forming a cartel to avoid competing with their own digital wallets.
- Banks reacted by branding the complaint as an attempt to limit competition in the sector.