Justice Department Probes Visa’s Relationships With Fintech Firms

The Wall Street Journal2021-10-28

Antitrust investigators are scrutinizing financial incentives Visa gave to Square, Stripe and PayPal Visa is the biggest card network in the U.S., for decades providing rails that card payments run on...

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精彩评论

MO75
2021-10-29
MO75
What wrong with offer lower fee to customer?
1f7a6fad
2021-10-28
1f7a6fad
Like please
Mh1234
2021-10-28
Mh1234
Like pls
Barbarazhao
2021-10-28
Barbarazhao
Expect the share price that company involved will drop
dadaho
2021-10-28
dadaho
Good

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Investigators want to know if those deals kept the payments firms from using other card networks or money-movement technologies, the people said.\nThe probe is part of an existing antitrust investigation that The Wall Street Journal previously reported. There is no indication that the department has reached any conclusions or is nearing the end of its probe.\nVisa is by far the biggest card network in the U.S., and for decades it has provided rails that debit- and credit-card payments run on. But Visa and other major networks, including Mastercard Inc.,have long been concerned about competition from newer payments firms. Square, Stripe and PayPal have all grown rapidly, enabling millions of businesses to sell their goods quickly and easily to people around the world.\nTo send transactions over Visa’s rails, fintech firms pay fees that Visa sets. (That model is similar to that of other major networks.) Some fintech companies enable payments that bypass Visa and other major card networks. For example, some allow payments to travel from one bank account to another, without using card rails.\nVisa has at times offered to lower fees or give other rewards in exchange for fintech firms sending more transactions over Visa rails rather than other networks or technologies.\nPricing arrangements of interest to the Justice Department include one where Visa offered financial incentives to PayPal, according to people familiar with the matter. Investigators are looking into whether those incentives convinced PayPal to encourage people to make payments via Visa-branded cards, some of those people said.\nA Square payment device. When the company was a small startup about a decade ago, Visa bought a stake.\nSeparately, investigators are looking into a deal Visa struck roughly six years ago related to Square’s Cash App, according to people familiar with the matter. Cash App lets people send money digitally to each other. Square was working with networks including Visa and lesser-known companies to route these transactions, the people said. (Visa bought a stake in Square about a decade ago when it was a small startup.)\nVisa offered to lower fees for Square and to send performance payments to the company that would get bigger when Square sent more transactions over Visa, people familiar with the matter said. That resulted in Square using Visa for many of its Cash App transactions, some of the people said.\nThe DOJ’s antitrust investigation is also examining whether Visa unfairly limited merchants from routing debit-card transactions over other rails, the Journal previously reported. “We believe Visa’s U.S. debit practices are in compliance with applicable laws,” the company said at the time.","kind":null,"is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":854232071,"gmtCreate":1635461883321,"gmtModify":1635461884366,"author":{"id":"3585255751373364","authorId":"3585255751373364","name":"MO75","avatar":"https://static.tigerbbs.com/d033068949889afd8c31c73da66c8e75","vip":1,"crmLevel":5,"crmLevelSwitch":0},"htmlText":"What wrong with offer lower fee to customer?&nbsp;","listText":"What wrong with offer lower fee to customer?&nbsp;","text":"What wrong with offer lower fee to customer?","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/854232071","repostId":1191895810,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":855556789,"gmtCreate":1635385118759,"gmtModify":1635385118844,"author":{"id":"4088296712073280","authorId":"4088296712073280","name":"1f7a6fad","avatar":"https://community-static.tradeup.com/news/default-avatar.jpg","vip":1,"crmLevel":1,"crmLevelSwitch":0},"htmlText":"Like please&nbsp;","listText":"Like please&nbsp;","text":"Like please","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/855556789","repostId":1191895810,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":855529472,"gmtCreate":1635384359349,"gmtModify":1635384359349,"author":{"id":"3581986677202510","authorId":"3581986677202510","name":"Mh1234","avatar":"https://static.tigerbbs.com/79c29d571575c18e59fc4a6ac2fc2c80","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Like pls","listText":"Like pls","text":"Like pls","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/855529472","repostId":1191895810,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":855563728,"gmtCreate":1635383948729,"gmtModify":1635383949012,"author":{"id":"3576888762442253","authorId":"3576888762442253","name":"Barbarazhao","avatar":"https://static.tigerbbs.com/40f6fdeabe0e8cac300f1fd2a17eb3ac","vip":1,"crmLevel":7,"crmLevelSwitch":0},"htmlText":"Expect the share price that&nbsp;company involved will drop&nbsp;","listText":"Expect the share price that&nbsp;company involved will drop&nbsp;","text":"Expect the share price that company involved will drop","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/855563728","repostId":1191895810,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":855563249,"gmtCreate":1635383932086,"gmtModify":1635383932179,"author":{"id":"3582854716649311","authorId":"3582854716649311","name":"dadaho","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"Good","listText":"Good","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/855563249","repostId":1191895810,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":64,"commentSize":5,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":false,"deviceId":"web-server-community-laohu8-v3","version":"4.26.2","shortVersion":"4.26.2","platform":"web","vendor":"web","appName":"laohu8","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/1191895810"}