Visa stock plunges 5% as feds sue over alleged debit card monopoly [Fortune]
Mastercard Incorporated (MA)
Last mastercard incorporated earnings: 4/29 08:00 am
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US:NYSE Investor Relations:
investor.mastercard.com/investor-relations/default.aspx
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Source: Fortune
monopolized the debit card market by eliminating choice for banks and businesses and stifling competition from new entrants. Over 60% of the more than $4 trillion in debit transactions that take place in the U.S. every year are routed to Visa's electronic payments network, Attorney General Merrick B. Garland said in a press conference Tuesday afternoon. The DOJ has alleged Visa uses that leverage to deploy a web of anticompetitive agreements that penalize merchants and banks for using competing payment networks. The department also said Visa threatens market entrants with high fees if they do not cooperate. One Visa executive allegedly said the company had point-of-sale service Square, which also operates a digital wallet called Cash App, “on a short leash.” “We allege that Visa has unlawfully amassed the power to extract fees that far exceed what it could charge in a competitive market,” Garland said. “Merchants and banks pass along those costs to consumers, either by raising p
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News
- US holiday spending on buy now, pay later to hit record due to debt-laden shoppers [Yahoo! Finance Canada]Yahoo! Finance Canada
- Global Interoperability: Digital Wallets' Next Challenge [Forbes]Forbes
- Rare elements powering the future, robo financial advice, path to EU citizenship: Catch up on the day's stories [CNN]CNN
- DOJ's Visa antitrust lawsuit alleges debit card company monopoly [USA TODAY]USA TODAY
- Rare elements powering the future, robo financial advice, path to EU citizenship: Catch up on the day's stories [CNN]CNN
MA
Earnings
- 8/1/24 - Beat
MA
Sec Filings
- 9/23/24 - Form 4
- 9/20/24 - Form 144
- 9/18/24 - Form 4
- MA's page on the SEC website