date:Mar 31, 2014
US retailing giant Walmart is suing Visa for $5 billion in relation to credit card fees.
Walmart alleges that the credit card company colluded with banks to fix the transaction fees it charged the retailer.
Walmart claims that Visa, along with the banks, allegedly worked to illegally fix the interchange fees and inflate the network fees on Visa charge card transactions.
According to the retailer, the action caused enormous damage between the years 2004-2012.
The activity resulted in lower sa