Visa rescinds rule, Justice backs down
July 6th, 2008
Visa is rescinding a rule that requires merchants to treat Visa-branded PIN-debit cards differently than signature debit cards.
The rule is being rescinded as the result of a Department of Justice antitrust investigation into whether the rule hurt competition in the debit card industry by restricting certain PIN debit transactions payday loans.
The Justice Department has not completed its investigation, but will drop the case now that San Francisco-based Visa (V) has changed its rules.
Filed under: technology by Wolf