DoJ sues Visa, alleges the card issuer monopolizes debit card markets

NEW YORK CITY, New York: The U.S. Department of Justice has filed an antitrust lawsuit against Visa, alleging the company uses its market dominance to stifle competition in the debit card market, costing consumers and businesses billions.

The lawsuit claims that Visa penalizes merchants and banks that opt not to use its payment processing technology despite the availability of alternatives. Visa earns fees from