Visa Hit With Debit Card Monopolization Suit Following DOJ Case

Visa Inc. was sued by a small business alleging the payments giant monopolizes the debit card market, mirroring allegations in a case the US Justice Department filed against Visa last week.

Plaintiff All Wrapped Up Signs and Graphix LLC, a Florida advertising and marketing company, claims Visa dominates the network on which debit card transactions run in violation of sections 1 and 2 of the Sherman Act, which prohibit agreements that restrain trade and attempts to monopolize, according to a proposed class action filed Tuesday in the US District Court for the Southern District of New York.

All Wrapped Up, ...