{"id":137856,"date":"2024-09-25T09:30:42","date_gmt":"2024-09-25T06:30:42","guid":{"rendered":"https:\/\/cryptodnes.bg\/en\/?p=137856"},"modified":"2024-09-25T01:35:41","modified_gmt":"2024-09-24T22:35:41","slug":"usa-takes-legal-action-against-visa-for-alleged-monopoly-in-debit-payments","status":"publish","type":"post","link":"https:\/\/cryptodnes.bg\/en\/usa-takes-legal-action-against-visa-for-alleged-monopoly-in-debit-payments\/","title":{"rendered":"USA Takes Legal Action Against Visa for Alleged Monopoly in Debit Payments"},"content":{"rendered":"

Filed in federal court on September 24, the lawsuit<\/a> <\/strong>claims that Visa uses exclusivity agreements and the threat of penalties to limit competition and safeguard its market dominance.<\/p>\n

Visa reportedly controls about 60% of the U.S. debit transactions market, generating $7 billion in transaction fees. U.S. Attorney General Merrick Garland stated that Visa\u2019s behavior is monopolistic, leading to inflated fees. He explained that these costs are passed down to consumers through higher prices or reduced service quality, ultimately affecting a wide range of goods and services.<\/p>\n

The lawsuit also suggests that Visa leverages its market power to form partnerships with potential competitors, further limiting market alternatives and keeping consumer costs elevated.<\/p>\n