By Saloni Sinha ( May 14, 2026, 08:18 GMT | Insight) -- A senior Mastercard executive told an Australian court on Thursday he was not made aware that strategic merchant agreements with Coles and Woolworths allegedly required the retailers to commit all of their credit and debit transaction volume to the payment company’s network in exchange for discounted rates. In a Federal Court hearing, Hai Ling, currently president for Mastercard Asia Pacific, Europe, Middle East and Africa, testified in an ongoing trial brought by the Australian Competition & Consumer Commission.A senior Mastercard executive told an Australian court on Thursday he was not made aware that strategic merchant agreements, or SMAs, with Coles and Woolworths allegedly required the retailers to commit all of their credit and debit transaction volume to the payment company’s network in exchange for discounted rates....
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