U.S. Accuses Visa of Monopoly in Debit Cards

Published On Sep 24, 2024, 2:30 PM

The U.S. Justice Department has filed an antitrust lawsuit against Visa, accusing the company of unfairly stifling competition in the debit card market. The lawsuit claims Visa has maintained a monopoly by entering into agreements that discourage merchants and banks from using competing payment networks. This conduct is said to raise costs for consumers and merchants alike, potentially affecting prices broadly across the economy.

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Visa may face significant legal challenges which could lead to regulatory changes or increased scrutiny on their pricing practices. The lawsuit could affect investor confidence and potentially impact stock performance in the medium term.

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