US to accuse Visa of illegally monopolising debit card market, sources say

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The US Justice Department lawsuit would be a culmination of years-long probes of Visa’s business practices.

– The US Justice Department plans to allege that Visa illegally monopolised the US debit card market, according to people familiar with the matter.

The US government’s allegations include that Visa made exclusive agreements to hinder the expansion of competing payment networks and thwarted efforts by technology companies to enter the market. The investigation was born out of the company’s failed acquisition of the financial technology infrastructure firm Plaid in 2021.

 

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