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Visa under U.S. Justice Department investigation over debit-card practices 3/20/21

OPINION

Visa under U.S. Justice Department investigation  over debit-card practices 3/20/21

The U.S. Department of Justice is investigating whether Visa engages in anticompetitive practices in the debit-card market. The investigation is focused on how merchants route debit card transactions when a consumer makes an online transaction.

Federal investigators looking into the issue have largely asked questions about online debit-card payments, though they have also asked about issues with in-store transactions

Visa Investigation-video

visa

The company does not issue cards, extend credit or set rates and fees for consumers; rather, it provides financial institutions with branded payment products that they then use to offer credit, debit, prepaid and cash access programs to their customers.

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