"We allege that Visa has unlawfully amassed the power to extract fees that far exceed what it could charge in a competitive market," stated Attorney General Merrick B. Garland. He emphasized how Visa's practices force merchants and banks to pass costs to consumers, leading to increased prices or decreased quality and service in a wider range of goods and services.
"The complaint filed Tuesday says Visa penalizes merchants and banks who don’t use Visa's own payment processing technology... It allows Visa to charge over $7 billion in fees each year for processing those transactions." This highlights the significant financial impact that Visa's dominance has on both businesses and consumers.
Collection
[
|
...
]