Visa's systematic efforts to limit competition for debit transactions have resulted in billions of dollars in additional fees imposed on American consumers and businesses, DOJ said in a press release.
Using that ubiquity as leverage, DOJ claims that Visa effectively forced merchants to send almost all of their payments through its network, by imposing 'large disloyalty penalties' should they fail to hit certain volumes.
For example, a Visa exec allegedly said: 'We've got Square on a short leash and our deal structure was meant to protect against disintermediation.'
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