The U.S. Department of Justice is preparing to file an antitrust lawsuit against Visa, accusing the company of illegally monopolizing the nation's debit card market through anticompetitive practices.
The U.S. Department of Justice is poised to launch a significant antitrust lawsuit against Visa Inc., accusing the payment card services giant of illegally monopolizing the nation's debit card market , according to sources familiar with the matter, per Bloomberg News.The lawsuit, set to be filed in federal court as early as Tuesday, will reportedly allege that Visa engaged in anticompetitive conduct to maintain its dominance in the debit card market .
The company has long maintained that tokenization significantly enhances payment security and reduces friction in the payment process.In recent weeks, as part of its normal schedule for adjusting fees, Visa and its partners informed merchants of coming changes to some of its rates. The measure reportedly sparked renewed interest from the Justice Department pertaining to tokenization.
Antitrust Visa DOJ Debit Card Market Monopoly
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