Japan's JFTC investigates Visa Japan for allegedly pressuring credit card companies to exclusively use its system, possibly harming competition and consumers.
Japan's antitrust authority, the Japan Fair Trade Commission (JFTC), is investigating Visa's Japanese unit for allegedly pressuring credit card companies to exclusively use its credit information system, possibly hindering competition and harming consumers. The local unit of Visa is suspected of imposing higher fees on credit card companies that did not use its network for credit checks, thereby forcing them to abandon competitors' networks. This practice could increase fees and burden consumers and retailers using the service. The JFTC is also examining Visa's Singaporean unit and investigating whether Visa's U.S. headquarters were involved.
July 17, 2024
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