The U.S. Justice Department has filed an antitrust lawsuit against Visa, alleging that the financial services behemoth uses its size and dominance to stifle competition in the debit card market, costing consumers and businesses billions of dollars.
The complaint filed Tuesday says Visa penalizes merchants and banks who don’t use Visa’s own payment processing technology to process debit transactions, even though alternatives exist. Visa earns an incremental fee from every transaction processed on its network.
According to the DOJ’s complaint, 60% of debit transactions in the United States run on Visa’s debit network, allowing it to charge over $7 billion in fees each year for processing those transactions.
I’m so glad to see some progress at last.
On a side note, I’m not sure what your last sentence means. I keep seeing people use the word “based” but I refuse to look it up 😄.
“Based” is pre-zoomer (Gen Z/Alpha) gamer slang for “great”, with a slight connotation of oppositional greatness.
Original gamer use may include describing use of the N word for memes as “based” as its a counter-cultural thing that gamers saw as good. Nowadays it’s pretty “normie-core” and any time something upsets the status quo in a positive way that might make opposition upset, is based.
For example, Dark Brandon, a reimagining of the “let’s go Brandon” MAGA meme to be a progressive, anti-MAGA meme used as kind of a soft middle-finger to the right-wing internet, was incredibly based.
Thanks for the explanation. I’m in the Xennial cohort, and I never could develop an appreciation for gaming lexicons. I know every generation has their slang, but it does add some challenges with a broader audience.
Don’t worry, I already have no idea what mewing, mogging, skibidi, or Ohio mean. I’m already the old man yelling at clouds.
Same!