Visa's buy settlement for the fintech startup Plaid is about to be examined underneath antitrust legislation: WSJ

© Reuters. A Visa logo is displayed on a Formula E racing car during a press conference to showcase the partnership between the Enel Group and the FIA ​​Formula E Championship at the MAXXI National Museum in Rome, Italy

(Reuters) – Payment Processor Visa Inc. (NYSE 🙂 & # 39; s $ 5.3 billion deal to buy fintech startup Plaid Inc is under antitrust scrutiny by the U.S. Department of Justice, the Wall Street Journal reported Tuesday, citing people familiar with the matter.

The Justice Department could soon decide whether to sue to block the deal, the report said.

After examining the proposed purchase for much of this year, the department fears that emerging competition in the payments sector could be curtailed, the report added.

The Justice Department is also preparing for potential legal disputes, including bringing up witnesses for a trial, according to the WSJ report.

Visa and the Justice Department did not immediately respond to Reuters' requests for comment. Plaid declined to comment.

The deal, which aims to improve Visa's access to the fintech space, was announced in January.

Disclaimer: Fusion Media would like to remind you that the information contained on this website is not necessarily real-time or accurate. All CFDs (stocks, indices, futures) and Forex prices are not provided by exchanges, but by market makers. As a result, prices may not be accurate and may differ from actual market prices. This means that the prices are indicative and not suitable for trading purposes. Therefore, Fusion Media is not responsible for any trading losses you may suffer from using this data.

Fusion Media or anyone involved with Fusion Media assumes no liability for any loss or damage caused by reliance on the information contained on this website, such as data, offers, charts and buy / sell signals. Please be fully informed about the risks and costs associated with trading in the financial markets. This is one of the riskiest forms of investment possible.

Related Articles