Credit: Sundry Photography DOJ Files Antitrust Suit Against Visa Alleging It Thwarts Payment-Processing Rivals
Visa handles more than 60% of debit card transactions in the U.S., and collects more than $7 billion in annual processing fees, a lucrative business the company protects through illegal, anticompetitive practices, the Department of Justice alleges.
September 24, 2024 at 03:14 PM
3 minute read
The U.S. Department of Justice on Tuesday sued the worldwide digital payments behemoth Visa, alleging that the company has created illegal monopolies.
The government's case focuses on the technology Visa uses to process payments between banks and merchants during purchases.
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