US sues Visa for monopoly on debit-card use affecting ‘price of nearly everything’
by Callum Jones in New York and agencies from on (#6QZMS)
Government claims firm stifles competition by threatening merchants with high fees and pays off potential rivals
The US Department of Justice has sued Visa, accusing one of the world's largest payment networks of antitrust violations that affect the price of nearly everything".
The financial giant has suppressed competition by threatening merchants with high fees and paying off potential rivals, according to the complaint, filed in US district court for the southern district of New York.
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