According to sources familiar with the matter, the US Justice Department is preparing to file a lawsuit against Visa Inc. alleging illegal monopolistic practices in the debit card market.
The claims against Visa center around accusations that it made exclusive agreements to stifle competing networks and hinder the entrance of technology firms into the market.
The forthcoming lawsuit is a result of extensive investigations into Visa's business practices, which began following the firm's unsuccessful acquisition of Plaid Inc. in 2021.
Visa's pricing strategies in relation to tokenization technology have also been under scrutiny, amidst heightened antitrust enforcement actions in the payments sector.
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