Intuit Accuses Visa, MasterCard Of Fixing Merchant Fees

Law360 (February 22, 2021, 5:26 PM EST) -- Software company Intuit has accused MasterCard and Visa of fixing the fees paid by merchants and payment processors that accept card payments from the financial giants, adding to the list of lawsuits they're facing over their use of such fees.

Visa Inc., MasterCard Inc. and their member banks use anti-competitive agreements to limit competition and fix the so-called interchange fees in a market in which they are the dominant players, Intuit Inc. told a California federal court Friday.

Intuit, whose brands include tax filing software TurboTax and accounting platform QuickBooks, alleged a combined 18 counts of federal and state antitrust violations...

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