Justice Department Files Antitrust Lawsuit Challenging Visa's Planned Acquisition of Plaid

📆 11/5/2020 1:05 PM
📰 WSJ

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The Justice Department filed an antitrust lawsuit that seeks to block Visa's $5.3 billion deal to acquire Plaid, a key player in the financial-technology space

The Justice Department filed an antitrust lawsuit Thursday that seeks to block Visa Inc.’s $5.3 billion deal to acquire Plaid Inc., a key player in the financial-technology space.

The department brought the case in a Northern California federal court, alleging the deal would eliminate the nascent but significant competitive threat that Plaid poses to Visa in the online debit market. The acquisition would allow Visa to unlawfully maintain a monopoly in online debit, leading to higher prices, less innovation and higher entry...

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Visa calls off merger with Plaid following Justice Department antitrust lawsuitAfter Visa bid to buy Plaid, politicians and antitrust experts argued the deal would give Visa – which is already the largest payment processing company in the world – even more power over how customers and businesses pay for goods and services. Fuck Visa bitcoin fixes this.
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