...September 25, 2024 NEW YORK (S&P Global Ratings) Sept. 25, 2024--S&P Global Ratings said today that the U.S. Department of Justice's (DOJ) debit card civil antitrust suit against Visa Inc. (##-/Stable/A-1+) adds to the company's considerable regulatory and legal risks. However, we think Visa's business diversity and strong financial position provide protections should the case, which could take years to resolve, result in an unfavorable ruling. On Sept. 24, 2024, the DOJ sued Visa alleging that it illegally maintains a monopoly over debit card networks in the U.S., violating antitrust laws. The DOJ believes that with 60% market share, Visa unlawfully amassed the power to extract fees that exceed what it could charge in a competitive market. The DOJ said Visa's agreements with merchants and banks penalize its customers who route transactions to a different debit card network or alternative payment system. It also induces potential competitors "to become partners instead of entering the market...
