The US government’s lawsuit argues Visa has maintained its dominance of the payments market by striking up exclusionary agreements that penalize merchants and banks for using its competitors.

The Justice Department sued financial services giant Visa for allegedly violating antitrust laws in its debit card business, which accounts for an estimated 60% of all debit transactions in the country.

The US Justice Department sued Visa Inc. Tuesday, alleging the global payments giant illegally monopolized the debit card market, in the Biden administration’s first major antitrust case in the financial services industry.