Visa's 'Empower Ahead' Trademark Filing Amid Antitrust Lawsuit
Sep/25/2024
On September 16, Visa International filed a U.S. trademark application for 'EMPOWER AHEAD,' covering financial consulting, philanthropic sponsorships, educational programs on entrepreneurship and financial literacy, and interactive games promoting financial education. This move coincides with a U.S. Justice Department lawsuit accusing Visa of suppressing competition to maintain its dominance in the debit card market. The lawsuit alleges Visa engaged in anti-competitive practices, such as penalizing merchants who used alternative networks and striking deals with potential rivals like Apple and PayPal. Visa, which processes over 60% of U.S. debit transactions, reportedly earns $7 billion annually from transaction fees. The Justice Department's investigation into Visa began in 2021, aligning with the Biden administration's broader push to tackle rising consumer costs. The visualization below shows detailed information about Visa's new 'EMPOWER AHEAD' trademark application.
