DOJ Suing Visa over Debit Cards

[Terrel L. Shields]

I have 2 debit cards, both are MasterCard. So, I am not sure why 60% of the CC debit market is a monopoly with Visa. That's like saying if Toyota sells half the cars in America, they are a monopoly. So, just exactly how is this fait accompli achieved?

DOJ accuses Visa of monopolizing debit card market in new antitrust lawsuit

 

[jay trotta]

Could the same be said for Utility Companies? They have a captive audience with limited to No competition.

 

[Tom D]

Most debit cards are mastercard or visa. When you use them a fee is paid to mastercard or visa. There is no competition, a monopoly, with them making all the rules. Try to find a bank that uses someone else on that card as a clearing house.

 

[Fernando]

Visa and Mastercard have put "restrictions" on US merchants not to charge more in using credit cards. I like to use them whenever I can to get cc rewards.
In Australia, some merchants are transparent and let customers know that a 1.3% (something like that) will be charged instead of cash. I would never see such an additional charge for credit card in US.
Instead, some US store would just state "Cash Only" to not participate in Visa/Monopoly monopoly on using the cards.

 

[Charles West]

This administration is regulation-happy and unfriendly to business.

 

[Fernando]

Why can't Americans pay lower price when not using credit cards? Merchants not supposed to do that as dictated by Visa/Mastercard..

 

[ucbruin]

Don't endorse high taxes....
But endorse high "service" fees....
Some of you guys....

 

[Terrel L. Shields]

Mastercard and Visa are not the same companies. And American Express and Discover also issue debit cards. I don't see 4 players in a market as a monopoly so, what is monopolistic about it? There must be a reason they are focused on Visa.