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submitted 2 days ago by [email protected] to c/[email protected]

The US has filed a lawsuit against Visa, accusing the financial giant of illegally stifling competition to maintain a monopoly over the debit card market.

It said Visa had punished companies that wanted to use alternative payment networks and paid off potential competitors to keep its hold over the market. 

The Department of Justice said the moves had slowed innovation and led to significant additional fees for American consumers and businesses.

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[-] [email protected] 13 points 2 days ago

Believe or not the fee won't go down

[-] [email protected] 4 points 2 days ago

Isn't it weird that every single company on the globe wants nothing more than to monopoly? seriously, from the shareholders down it is the ONLY goal.

People get fired if there aren't massive returns every quarter.

And then when the corporation gets running well and actually gets where they've been headed for years or decades, suddenly; we have a problem.

That's illegal, you can't do that!

Maybe the motivators at play are the actual issue.

Maybe corporations could refocus on producing the best product or service possible instead of caving to VC whims and making everything suck.

[-] [email protected] 4 points 2 days ago

Wouldn't it make sense to grab MasterCard too? Putting things simply two companies working together is just as anticompetitive as a straight up monopoly.

[-] [email protected] 1 points 2 days ago

That's interesting, I've only ever had Visa for credit cards and MasterCard for debit. I didn't even know Visa did debit.

[-] [email protected] 1 points 1 day ago

They both do both usecases.

[-] [email protected] 1 points 2 days ago

It's really about where you bank. Never had master always visa over the last 20 years with 3 different banks.

[-] [email protected] 1 points 2 days ago

J’ACCUSE!

this post was submitted on 25 Sep 2024
153 points (98.7% liked)

Economics

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