![](https://www.pymnts.com/wp-content/uploads/2023/01/Shutterstock_1699083310.jpg)
The U.S. Justice Department is continuing its investigation into Visa’s debit card practices.
The payments giant is cooperating with the probe, which is “seeking additional documents and information focusing on U.S. debit and competition with other payment methods and networks,” Visa said in a Securities and Exchange Commission (SEC) filing Friday (Jan. 27).
As PYMNTS has written, the Department of Justice (DOJ) ‘s antitrust arm began investigating Visa in 2021 for allegedly anticompetitive debit card processes in the debit card industry. That meant collecting data and determining whether Visa prevented retailers from sending debit card transactions through lower-lost card networks.
Related: DOJ Asks For More Info On Visa’s Debit Card Practices & Competition
The company’s new SEC filing also said the company had been notified last month by the European Commission of an investigation of Visa’s incentive agreements with clients.
The news comes a little more than a month after a proposed Federal Trade Commission (FTC) order that would require Mastercard to share the customer account information needed to process debit payments with competing networks.
“This is a victory for consumers and the merchants who rely on debit card payments to operate their business,” Holly Vedova, director of the FTC’s Bureau of Competition, said in a news release in late December.
The FTC order focuses on tokenized transactions, referring to the process of substituting a sensitive data element with a non-sensitive equivalent, known as a token, that carries no extrinsic or exploitable meaning or value. The token is a reference that maps back to the sensitive data via a tokenization system.
Featured News
Canadian Breadmakers Settle Price-Fixing Lawsuit
Jul 25, 2024 by
CPI
EssilorLuxottica Open to Meta as Shareholder, Says CEO Francesco Milleri
Jul 25, 2024 by
CPI
California Supreme Court Upholds Proposition 22, Securing Independent Contractor Status for Uber and Lyft Drivers
Jul 25, 2024 by
CPI
Paramount Global Investor Sues to Block Skydance Media Merger
Jul 25, 2024 by
CPI
Software Vendors Win Class Action Status in Antitrust Case Against CDK Global
Jul 25, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Trade & Antitrust
Jul 26, 2024 by
CPI
What is Wrong with the WTO Discipline on Subsidies?
Jul 26, 2024 by
CPI
The Abiding Tension Between Trade Remedy Law and Antitrust
Jul 26, 2024 by
CPI
Trade and Antitrust: An End to Isolationism
Jul 26, 2024 by
CPI
International Trade Law and Domestic Regulation of Generative Artificial Intelligence: Divergent Approaches?
Jul 26, 2024 by
CPI