Visa Sued by Australian Regulator Over Currency Policy
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Visa Inc., the world’s biggest payments network, contravened Australia’s consumer protection laws by preventing buyers from using a currency of their choice when shopping, the country’s competition regulator said.
The Australian Competition and Consumer Commission said in an e-mailed statement that it sued Visa in federal court, claiming the company prevented the expansion of so-called dynamic currency conversion services. A copy of the claim wasn’t immediately available from the court.