Visa is under investigation by the Department of Justice's antitrust division over whether the company pushes merchants into more expensive forms of debit card payments, The Wall Street Journal reported Friday, March 19, 2021.
The investigation is focused on how merchants route debit card transactions when a consumer makes an online transaction, according to the Journal, which cited anonymous sources.
The investigation is focused on how merchants route debit card transactions when a consumer makes an online transaction, according to the Journal, which cited anonymous sources.
However debit card fees are strictly regulated after Congress passed the Dodd Frank Act following the 2008 financial crisis, in what's known as the Durbin amendment.
AdMerchants are supposed to be given the option to run debit card transactions on lower-cost networks instead of running it on Visa's or Mastercard's network.