The Brazilian Administrative Council for Economic Defense, or CADE, is also probing that nation’s Elo network, Visa said Friday in an annual regulatory filing. At issue is a network rule that requires a merchant’s bank to receive certain information from payment facilitators, Visa said.

Brazil’s payments industry has swelled in recent years, with more than 30 processors attending a meeting with the country’s central bank to handle and settle payments. Two such companies — StoneCo Ltd and PagSeguro Digital Ltd — debuted on US stock exchanges earlier this year.

Visa said it is cooperating with CADE, which started its investigation on Oct 15. A Mastercard spokesman didn’t have an immediate comment when reached. AmEx said it wasn’t contacted directly by CADE about the investigation, but will cooperate with regulators. A spokeswoman for Elo didn’t immediately respond to an email sent after business hours.