The DOJ argues these deals were designed to keep fintech firms from building their own payment rails. Internal documents cited in the case allegedly show Visa referred to services like as "existential threats" before eventually striking deals to keep them tied to the Visa network. Key Allegations and Their Impact
The Future of Digital Payments: Understanding the DOJ vs. Visa Lawsuit Justice Department probes Visa’s relationships ...
The lawsuit outlines several ways Visa allegedly protects its "moat": The DOJ argues these deals were designed to
The DOJ estimates that Visa’s dominance allows it to collect over $7 billion in annual fees, costs that are ultimately passed on to consumers through higher prices for "nearly everything". The Defense: Innovation Through Cooperation Justice Department probes Visa’s relationships ...