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Federal antitrust enforcers are accusing Visa of using its market dominance in payments to stifle competition in the debit card market, raising costs for consumers and businesses.
The U.S. Department of Justice on Tuesday said it filed a lawsuit against the credit card giant alleging that Visa is a monopoly, enabling it to block rivals from introducing lower-priced debit products. Visa also pressures merchants and banks into agreements that penalize businesses that process debit transactions using a different debit or payment system, the agency...
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