Credit card giant Visa Inc (NYSE:V, ETR:3V64) is facing a US antitrust action for anti-competitive behaviour with local reports suggesting the writ might be filed as early as today.
Visa indicated as far back as 2021 that the US Department of Justice was looking into its business methods for potential competitive law breaches.
That probe related to the US debit card business and payment method and at that time Visa stated that its “US debit practices comply with applicable laws”.
Bloomberg, which published the report, added it was not yet clear whether any writ would apply to these investigations or something else.
Mastercard, Visa's main rival, settled an action with the US Federal Trade Commission over merchant direct debit card payments.
An offer by both Visa and Mastercard to lower the fees they charge retailers was rejected by a federal judge earlier this year.