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US sues Visa for monopoly on debit-card use affecting ‘price of nearly everything’
Government claims firm stifles competition by threatening merchants with high fees and pays off potential rivals
The US Department of Justice has sued Visa, accusing one of the world’s largest payment networks of antitrust violations that affect “the price of nearly everything”.
The financial giant has suppressed competition by threatening merchants with high fees and paying off potential rivals, according to the complaint, filed in US district court for the southern district of New York.
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NBC News - Top stories
DOJ accuses Visa of debit monopoly that affects price of 'nearly everything'
The U.S. Justice Department on Tuesday sued Visa, the world’s biggest payments network, saying it propped up an illegal monopoly over debit payments by imposing “exclusionary” agreements on ...1 hour ago -
CNBC - Business
Justice Department accuses Visa of debit network monopoly that affects price of 'nearly everything’
Visa and Mastercard have surged over the past two decades, reaching a combined $1 trillion market cap. That has attracted unwanted attention from regulators.1 hour ago -
ABC News - Tech
US sues Visa, saying the card issuer monopolized debit card markets and is driving up costs for businesses and consumers
US sues Visa, saying the card issuer monopolized debit card markets and is driving up costs for businesses and consumers3 hours ago -
The New York Times - Business
U.S. Accuses Visa of Monopoly in Debit Cards
The financial giant, which processes the majority of debit card spending in the United States, unfairly imposed fees on merchants and deterred rivals, the Justice Department said.3 hours ago -
Inc. - Business
Visa to Face Antitrust Suit Over Debit Card Market Monopoly
The suit follows a 2023 Department of Justice investigation of the card issuer's business practices.9 hours ago
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