FX.co ★ US Department of Justice to file lawsuit against Visa

The US Department of Justice is planning to file an antitrust lawsuit against the international payment system Visa.

After conducting a multi-year investigation, the agency concluded that Visa engaged in "anti-competitive behavior." The investigation focused on Visa's handling of debit cards in the United States and its impact on competition with other networks and payment methods.

As a result, Visa’s stock dropped nearly 2% during after-hours trading.

Additionally, American antitrust authorities also scrutinized Visa's competitors. In 2023, Mastercard reached a settlement with the US Federal Reserve regarding several accusations, including the unlawful forcing of clients to route debit card payments through its own network.

Interestingly, it was recently reported that Visa decided to register two new brands in Russia, despite having previously exited the country. These new developments cover banking services, financial management, operations with crypto assets, debit and credit card servicing, etc.