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Department of Justice Files Lawsuit Against Visa's Acquisition Of Plaid
Summary: The United States Department of Justice is filing an antitrust suit against Visa for its acquisition of Plaid, according to a complaint filed by the DOJ on Thursday. The DOJ is arguing that Visa bought Plaid to neutralize a threat to the company's crucial United States debit business. The regulator went on to state that ...
The United States Department of Justice is filing an antitrust suit against Visa for its acquisition of Plaid, according to a complaint filed by the DOJ on Thursday.
The DOJ is arguing that Visa bought Plaid to neutralize a threat to the company's crucial United States debit business. The regulator went on to state that the acquisition will remove a threat to Visa that could have resulted in substantial savings and more innovative online debit services for merchants and consumers.
The payments giant disputed the charges arguing that the company faces a variety of competitors and that Plaid is not one of them, according to a spokesperson who commented to the Wall Street Journal.
By Emily Mason
Tags: Debit Payments,plaid,Visa
Link: Department of Justice Files Lawsuit Against Visa's Acquisition Of Plaid [Copy]
