DOJ sues Visa for locking out rival payment platforms

Photo by Jakub Porzycki/NurPhoto via Getty Images The Department of Justice has filed an antitrust lawsuit against Visa, alleging that the financial services firm has an illegal monopoly over debit network markets and has attempted to unlawfully crush competitors, including fintech companies like PayPal and Square. The lawsuit, which was first rumored by Bloomberg, follows a multiyear investigation of Visa which the company disclosed in 2021.
“We allege that Visa has unlawfully amassed the