US accuses Visa of monopolizing debit card swipes

Quick Summary:

Department of Justice sued Visa for alleged antitrust violations on Tuesday, accusing one of the world's largest payment networks of suppressing competition by threatening merchants with high fees and paying off potential rivals.

Visa processes more than 60 per cent of debit transactions in the U.

The lawsuit seeks to have a judge in Manhattan impose requirements that would restore competition for services to process debit payments both online and at physical stores.

---

More Pictures

---

Read Quick SummarySave Time

or

Article Details

Category: EconomyBusiness

Markets: Singapore

Topics: Alleged Merchants Justice Card Fees Visa Mastercard Cards Department Billion Debit

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-25 @ 02:22:59 (2 days ago)

News Timezone: GMT +8:00

News Source URL: channelnewsasia.com

Language: English

Article Length: 444 words

Reading Time: 3 minutes read

Sentences: 24 lines

Sentence Length: 19 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Channel News Asia

News ID: 22699370

View Article Analysis

About Channel News Asia

Main Topics: EconomyBusiness

Official Website: channelnewsasia.com

Update Frequency: 44 posts per day

Year Established: 1999

Headquarters: Singapore

News Last Updated: 1 hours ago

Coverage Areas: Singapore

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #27

Publisher Details

Frequently Asked Questions