DOJ investigates Visa’s token technology pricing – Bloomberg.

(Reuters)⁢ -Visa is⁣ facing a fresh investigation by ‍the U.S. Department of Justice over allegations ⁣that‌ it is charging retailers more‌ for not using⁢ the⁢ payment ⁤firm’s proprietary tokenization technology, according to ⁣Bloomberg News. This ‌latest probe is part‍ of the DOJ’s ongoing⁢ antitrust ‌investigation into Visa’s practices in the debit card market.

The investigation is looking into whether Visa engages in anticompetitive‌ practices. The company’s tokenization technology, ⁣introduced ⁣in 2014, replaces debit card⁣ numbers⁤ with ⁢tokens that can only​ be used ⁤on specific devices or with certain merchants. This technology enhances security by replacing sensitive account information with a unique digital identifier.

Visa and the DOJ have not yet responded to a​ Reuters request for comment on the investigation. Both Visa and ⁣its rival Mastercard are facing increased scrutiny for their dominance in the payments market.

Last‍ October, the U.S. Federal Trade Commission launched an investigation into whether Visa and ‍Mastercard’s security tokens restrict‍ debit card ⁢routing in online payments.

In⁤ May, the DOJ’s antitrust division demanded additional documents and⁤ information from Visa regarding its debit card​ practices ‍and competition with other‍ payment networks. ​Mastercard‌ also ⁢received a similar request from ​the DOJ in April.

In 2019, Visa settled ⁤an antitrust probe by the​ European Union related to card⁣ fees.

(Reporting​ by ‍Pritam Biswas in‌ Bengaluru; Editing by Pooja Desai)

President ‘Biden’⁣ comments on the Maui disaster, stating he hasn’t visited⁣ yet because he doesn’t want to get in⁤ the way.

A growing ⁤number of Republicans​ and Democrats are coming out ⁢and criticizing President Joe Biden’s handling of major issues⁤ while he continues to⁤ promote⁤ ‘Bidenomics’.

This week, headlines are dominated by the 4th Trump Indictment, Maui Wildfires, and a more‍ than interesting performance by 2024 presidential hopeful⁣ Vivek Ramaswamy.

Trump promises an Irrefutable Report, while Brian Kemp ⁢says Georgia’s Elections are secure.

By Josh Ye HONG ⁤KONG (Reuters) ‍- China’s ‍Tencent Holdings posted​ a‌ smaller-than-expected 11% rise⁣ in second-quarter revenue on Wednesday.

(Reuters) – Two Pinterest directors have resigned from Nextdoor’s ⁣board of directors ​in response to ‍U.S. Justice Department⁢ efforts to stop directors.

(Reuters) – Two‍ Pinterest directors‌ have resigned⁢ from Nextdoor’s board of directors in response to ⁤U.S. Justice Department efforts to stop directors.

By Elizabeth Howcroft LONDON (Reuters)⁤ – Payments giant PayPal will stop allowing UK customers to ‌buy cryptocurrencies through its ⁤platform from October.