Visa’s Incentives to Banks Examined by Justice Department (1)

The U.S. antitrust investigation of Visa Inc. is scrutinizing deals the company has with banks to entice them to process more online debit-card transactions over its network -- spending that surged amid coronavirus lockdowns.

The Justice Department is probing incentives Visa offers banks that route more debit-card spending through its network, according to people familiar with the matter. The firm acknowledged an inquiry in a regulatory filing last month without elaborating on the specific issues at hand.

Representatives for Visa and the Justice Department declined to comment.

Visa’s shares pared earlier gains to trade at $219.41 at 12 p.m. in ...