The Commonwealth Bank of Australia has reportedly taken legal action against MasterCard over a new scheme launched by the card association and retailer Coles Myers.
Coles Myer yesterday added the MasterCard marque to its FlyBuys loyalty programme. CBA alleges that the tie-up breaches an exclusivity agreement between the bank and card operator for its own EZY Banking joint venture with Woolworths.
The bank has refused to comment on the case, but the Sydney Morning Herald quoted a statement from MasterCard which said that it believed it was "acting within the parameters of the current agreement".