Credit: Sundry Photography.

The U.S. Department of Justice (DOJ) on Tuesday sued the worldwide digital payments behemoth Visa, alleging that the company has created illegal monopolies.

The government's case focuses on the technology Visa uses to process payments between banks and merchants during purchases. The DOJ accuses Visa of penalizing merchants and other customers when they use a Visa competitor to process payments. Prosecutors also argue that Visa further reduces competition and seizes a stranglehold on the marketplace by threatening to levy financial penalties against technology companies that decline to use their services.

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