The U.S. Justice Department has filed an antitrust lawsuit against Visa, alleging that the financial services behemoth uses its size and dominance to stifle competition in the debit card market, costing ...

The U.S. Justice Department has filed an antitrust lawsuit against Visa, alleging that the financial services behemoth uses its size and dominance to stifle competition in the debit card market, costing consumers and businesses billions of dollars. The complaint filed Tuesday says Visa penalizes merchants and banks who don't use…

NEW YORK (AP) — The U.S. Justice Department has filed an antitrust lawsuit against Visa, alleging that the financial services behemoth uses its size and dominance to stifle competition in the debit card market, costing consumers and businesses billions of dollars.

The complaint says Visa penalizes merchants and banks who don't use Visa's own payment processing technology

Analysts say the case could stretch out for years if it is not settled and goes to trial.

The U.S. Department of Justice sued Visa for alleged antitrust violations on Tuesday, accusing one of the world's largest payment networks of suppressing competition by threatening merchants with high fees and paying off potential rivals.Visa processes more than 60 per cent of debit transactions in the U.

The US Department of Justice filed a lawsuit accusing Visa of engaging in anticompetitive behavior.Prosecutors say the financial giant's monopolistic