Visa, MasterCard Ordered to Face Trial
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Visa USA Inc. and MasterCard International Inc. must face trial in a lawsuit accusing them of forcing merchants to accept their debit cards, a judge said in a ruling that makes it easier for retailers to prove their case.
The suit, filed in 1996 by a group of retailers led by Wal-Mart Stores Inc., claims the two leading credit card companies illegally sought to extend their credit card dominance into the debit card market. The case is scheduled to begin trial April 28. At stake is more than $39 billion in potential damages against the two bank-owned associations.
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