Discover Financial Services has filed a lawsuit in federal court against Visa alleging about its anti-competitive practices in its debit-card business.
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The petition has contended that Visa has historically attempted to ensure that PIN debit does not predominate by undertaking illegal practices and offering economic incentives to merchants to choose the Visa network for transactions.
Discover’s Pulse, that requires authorization with a PIN unlike Visa transactions which use customer signature, has challenged a Visa rule that requires financial issuers of Visa signature debit cards to also include Visa’s PIN services instead of allowing other PIN networks like Pulse to compete for that business.
The lawsuit is filed in the US District Court of Southern District of Texas, Houston Division.
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By GlobalData
