Europe

Visa Europe Protests Being In U.S. Lawsuit

Having been dragged into a payment card interchange lawsuit, Visa Europe Limited and Visa Europe Services are pushing back, arguing that Walmart-led lawsuit “casts too wide a net, lumping them in with Visa even though they are only licensors of Visa and are owned by members banks in Europe,” according to a story in Law360. ““Visa Europe has nothing to do with the matters at issue in this case and does not belong in it as a defendant or otherwise,” the European entity said, the story reported.

The trust of the European objections is that the pair are barely mentioned in the lawsuit (“one sentence out of hundreds”), making their involvement too trivial to merit the extreme cost and inconvenience of having to battle a huge lawsuit in another continent. “A one-off reference to effects on the U.S. market (do not) meet the direct, domestic effects requirement of the Foreign Trade Antitrust Improvements Act,” they said, according to the story.

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