US DOJ to sue Visa over debit card market monopoly

24/9/2024 12:27

        The U.S. Department of Justice plans to file a lawsuit against Visa, the world's largest payments network operator, alleging that the company illegally monopolized the country's debit card market, Bloomberg News reported on Monday.
        
        The antitrust division is set to sue Visa in federal court as early as Tuesday, accusing it of various anticompetitive behaviors, the report said, citing unnamed sources.
        
        The Justice Department is preparing to accuse Visa of taking measures to prevent competitors from challenging its dominance in the debit card market, according to the report.
        
        Visa and the DOJ did not immediately respond to Reuters' requests for comment.
        
        In 2023, the DOJ's antitrust division issued an investigative demand to Visa, seeking documents and information about its debit card practices in the U.S. and competition with other payment networks.