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US accuses Visa of debit card monopoly (www.bbc.com)

submitted 2 months ago by MicroWave to c/economics

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The US has filed a lawsuit against Visa, accusing the financial giant of illegally stifling competition to maintain a monopoly over the debit card market.

It said Visa had punished companies that wanted to use alternative payment networks and paid off potential competitors to keep its hold over the market.

The Department of Justice said the moves had slowed innovation and led to significant additional fees for American consumers and businesses.

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[–] TheTetrapod 1 points 2 months ago (2 children)

That's interesting, I've only ever had Visa for credit cards and MasterCard for debit. I didn't even know Visa did debit.

[–] LifeOfChance 1 points 2 months ago

It's really about where you bank. Never had master always visa over the last 20 years with 3 different banks.

[–] [email protected] 0 points 2 months ago

They both do both usecases.