US accuses Visa of debit card monopoly
US accuses Visa of debit card monopoly
The Department of Justice said Visa's actions had slowed competition and raised prices across the economy.
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.
Visa said the claims were "meritless" and it would defend itself in court.
Visa said the claims were “meritless” and it would defend itself in court.
Where they will pay a fine for which they've already budgeted.
We gotta keep trying though.
Correct.
Still dispiriting when it plays out that way. Maybe the pendulum is swinging back, though. Recent antitrust cases have shown me a glimmer of hope that my kids might see a better world than I've had to live in.
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