United States v. Visa (debit)

US law already says many debit cards must be routable over at least two networks. The DOJ says Visa's contracts undo that choice with incentives and penalties.

The complaint also says Visa paid potential technology competitors so they would not build a rival rail.

Visa says debit is competitive, its deals are discounts, and merchants choose Visa because it works.

After the court refused to dismiss the case, the remaining fight was the calendar. A trial in 2027 or later was a live possibility, not a date certain.

Debit routing fees are inside the price of card acceptance.

Smaller networks and pay-by-bank products are the alleged victims.

Visa has monopoly power in US debit.

Exclusive and de facto exclusive deals maintained it.

Merchants pay more than they would with real routing choice.

Visa says volume discounts are competition.

It says the Durbin amendment already constrains debit.

It says fintechs are growing, which cuts against monopoly.

Your debit card does not change because a complaint was filed.

Merchants, not cardholders, are the direct fee payers in the theory.