The U.S Department of Justice has launched an investigation into Visa Inc.’s practices on its debit-card transactions, according to Bloomberg. The agency is scrutinizing network rules for routing in-store and online transactions.
Last year, the Justice Department blocked a $5.3 billion deal Visa had inked with Plaid Inc.
DOJ said combination between Visa and Plaid Inc. would further limit competition in the market for online debit card transactions. Visa stock is declining on DOJ investigation news. V: NYSE is down 4.95%
