Biden DOJ slaps Visa with antitrust suit over debit card dominance
Visa’s heft in the market has allowed it to pressure merchants into accepting its cards to avoid steep costs on billions of dollars of transactions, the DOJ says.
Politico cited CEI on Visa and Mastercard issues
Retail groups including the National Retail Federation and the Merchant Payments Coalition, which have long pushed for action curbing Visa and MasterCard, also lauded the case. The right-leaning Competitive Enterprise Institute, meanwhile, called it “a strange use of limited resources,” saying the pending merger between Capital One and Discover will bring more competition to the sector.
Read more at Politico