CASE BACKGROUND 

This lawsuit seeks to end Visa’s anticompetitive practices, secure compensation to consumers, and restore genuine competition and innovation to the debit network market. 

Debit cards have become Americans’ primary non-cash payment method, processing over $4 trillion in transactions in 2021—double the 2015 volume. These transactions rely on debit networks: technological infrastructure that enables real-time payment processing between buyers and sellers, with networks charging merchants fees that are typically passed on to consumers. 

Visa dominates this market through anticompetitive practices designed to maintain its market power and supracompetitive pricing. By controlling over 60% of debit transactions, it collects over $7 billion in annual fees from its U.S. debit business—its largest revenue source globally—while maintaining an 83% profit margin on network processing fees. 

Visa maintains its position through three key strategies: 

  • Leveraging its scale and monopoly position to penalize merchants and issuing banks who attempt to route transactions through lower-cost alternative networks 
  • Using payments and anticompetitive agreements to prevent potential competitors from developing rival networks 
  • Creating barriers that prevent competitors from achieving the scale necessary to compete effectively 

Internal Department of Justice documents reveal Visa’s explicit concern about having to compete on price, leading to its strategy of using anticompetitive tactics to protect its market position and profitability. These practices force merchants to accept Visa’s premium pricing—costs which are ultimately passed to consumers through higher prices for goods and services. 

Saveri Visa Case Images

CASE FILED 

On December 11, 2024, the Joseph Saveri Law Firm, LLP filed a complaint on behalf of plaintiff and members of a proposed class who used their Visa debit cards to buy goods and services from merchants. The suit, filed in the United States District Court for the Southern District of New York, alleges that defendant Visa, Inc. engaged in anticompetitive conduct in the United States that specifically intended to impact the competition, prices, and overall debit networks that plaintiff, class members, merchants, and acquiring banks use to complete transactions for goods and services. 

Plaintiffs bring this action under Sections 4 and 16 of the Clayton Act, 15 U.S.C. §§ 15, 26, alleging violations of Sections 1 and 2 of the Sherman Act and various state antitrust and consumer protection laws. Plaintiffs seek injunctive relief, compensatory damages, and all damages available under applicable statutes. 

On December 16, 2024, the Court consolidated various cases under In re Visa Debit Card Legislation and appointed Hartley LLP, Paul LLP, and the firm as Interim Co-Lead Counsel.

 

CONTACT US

If you wish to inform us of any unfair business practice, antitrust or competition issue, or comment on one of our cases, please use the form below. There is no cost or obligation for our review of your case. We agree to protect your name and all confidential information you submit against disclosure, publication, or unauthorized use to the full extent under the law. Please note that completion of this form does not contractually obligate our firm to represent you. We can only represent you if both you and our firm agree, in writing, that we will serve as your attorney. Please read our disclaimer. 


SHARE YOUR EXPERIENCE/RECEIVE EMAIL UPDATES