Competition Committee fines Sello for false advertising on commission-free transfers
Marketplace Trading, the company behind the popular Sello service, has been fined by the Competition Committee following an investigation into their advertising practices. The investigation was initiated after an ad campaign in Tashkent claimed that money transfers through the Sello Pay app were free of commission.
The promotion for money transfers to bank cards via Sello Pay began on July 1 and was targeted at new users who completed identification. However, if the monthly volume of user transfers exceeded 3 million sums, a 1% commission would be charged on transactions exceeding this amount. Unfortunately, the advertisement did not provide clear terms for the promotion.
As a result of the investigation, Marketplace Trading was found guilty of violating several articles of the Advertising Law and the Consumer Protection Law. The Competition Committee imposed a financial penalty on the company and issued a directive for them to rectify the violations and prevent similar issues in the future.
This is not the first time the Competition Committee has taken action against companies for misleading advertising practices. In the past two months, fines have been imposed on four banks for similar offenses. It serves as a reminder to businesses to ensure their advertising is transparent and follows all regulations to protect consumers.
