Visa Faces Further Antitrust Scrutiny Over Payments Practices
- Department sought more details about payment methods in May
- Probe has focused on agreements with PayPal over steering
Visa Inc. headquarters in Foster City, California.
Photographer: David Paul Morris/BloombergThis article is for subscribers only.
The US Justice Department sought additional information from Visa Inc. on debit cards and other payment methods in May, according to a new disclosure, deepening an inquiry into the company’s practices.
Visa received a civil investigative demand, which is similar to a subpoena, from the department on May 2, according to a regulatory filing Wednesday. The San Francisco-based company had previously disclosed receiving an information request in January, and rival Mastercard Inc. said in April that it had also been contacted by the Justice Department’s antitrust lawyers.