"Anyone who has bought something online, or checked out at a store, knows there is an ever-expanding universe of companies offering new ways to pay for goods and services," Visa General Counsel Julie Rottenberg said in a statement.
September 27, 2024 at 11:15 AM
4 minute read
Visa hasn’t filed a response in court to the U.S. Department of Justice’s antitrust lawsuit, but it’s already clear what the cornerstone of its defense will be: that the government fails to appreciate the deluge of new competitors flooding into the payments market.
The DOJ’s 71-page lawsuit, filed in the Southern District of New York, alleges that for years Visa has monopolized the debit market and used illegal tactics to protect its dominance.
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