Visa Slams US Lawsuit Targeting ‘Thriving’ Payments Industry

Visa Inc. hit back at a Department of Justice lawsuit alleging it illegally monopolizes the debit card markets, arguing the case falsely accuses the payments giant of striking deals with merchants and fintech firms to stifle competition.

“The government’s only real complaint is that Visa is big, but size alone is not a violation of the antitrust laws,” the company said in a motion filed late Monday in the US District Court for the Southern District of New York.

Visa’s lawyers at Wilkinson Stekloff LLP and Arnold & Porter are pushing for the court to dismiss the Justice Department lawsuit, ...