Navigation
Search
|
DOJ Sues Visa For Locking Out Rival Payment Platforms
Tuesday September 24, 2024. 08:48 PM , from Slashdot
Visa makes more than $7 billion a year in payment processing fees alone, and more than 60 percent of debit transactions in the United States run on Visa's network, the complaint claims. The government alleges that Visa's market dominance is partly due to the 'web of exclusionary agreements' it imposes on businesses and banks. Visa has also attempted to 'smother' competitors -- including smaller debit networks and newer fintech companies -- the complaint alleges. Visa executives allegedly feel particularly threatened by Apple, which the company has described as an 'existential threat,' the DOJ claims. Read more of this story at Slashdot.
https://news.slashdot.org/story/24/09/24/1848223/doj-sues-visa-for-locking-out-rival-payment-platfor...
Related News |
25 sources
Current Date
Sep, Fri 27 - 03:26 CEST
|