The U.S. Justice Department has filed a lawsuit against Visa, accusing the world’s largest payments network of maintaining an illegal monopoly over debit payments through "exclusionary" agreements that stifle competition. The DOJ claims Visa’s actions have forced American consumers and merchants to pay billions of dollars in additional fees. Attorney General Merrick Garland stated that Visa has unlawfully used its market dominance to charge excessive fees, which are then passed along to consumers through higher prices or reduced services. Visa has dismissed the lawsuit as "meritless," arguing that it operates in a competitive environment with many alternative payment options.

Visa's dominance in the payments industry, alongside Mastercard, has drawn increased regulatory scrutiny. Over 60% of debit transactions in the U.S. run on Visa’s network, allowing the company to generate over $7 billion annually in processing fees. The DOJ claims Visa has leveraged its scale to impose restrictive contracts on merchants and banks, hindering competition and innovation in the payment sector. The suit is part of a broader effort by regulators to address monopolistic practices in various industries under the Biden administration.