Reported about 1 month ago
Visa is engaged in an ongoing battle to maintain its dominance in the U.S. payment system, countering challenges from tech and financial rivals like Apple, PayPal, and others. The company uses strategic partnerships and fees as leverage to fend off competitors, while recently facing an antitrust lawsuit from the Justice Department accusing it of monopolizing debit-card payments, which has led to higher fees for merchants and consumers. Despite Visa's claims of supporting competition and innovation, critics argue that its practices hinder a more efficient payment system.
Source: YAHOO