The Department of Justice said Visa's actions had slowed competition and raised prices across the economy.

The US has filed a lawsuit against Visa, accusing the financial giant of illegally stifling competition to maintain a monopoly over the debit card market.

It said Visa had punished companies that wanted to use alternative payment networks and paid off potential competitors to keep its hold over the market.

The Department of Justice said the moves had slowed innovation and led to significant additional fees for American consumers and businesses.

  • @21CabbageEnglish
    4•1 month ago

    Wouldn’t it make sense to grab MasterCard too? Putting things simply two companies working together is just as anticompetitive as a straight up monopoly.