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Nov 22, 2023
Apple is sued in California, alleging anti-competitive iOS P2P deals causing inflated prices for consumers.
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Apple faces US antitrust allegations, accused of limiting crypto tech in payment apps via deals with rivals like Venmo and Cash App.
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Consumers argue Apple's restraints inflated fees for Venmo and Cash App users, hindering competition without market share losses.
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Apple's control over iOS apps limits competition by enforcing uniform agreements on new P2P payment products.
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Plaintiffs demand Apple end anti-competitive deals, urge separation of Apple Cash to protect P2P payments consumers.
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This lawsuit adds to Apple's existing antitrust challenges, including allegations related to anti-competitive practices in its Apple Pay service.
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Case shapes crypto and mobile payments debate, potential impact on consumers, businesses, and wider industry.
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Apple faces legal battles for Apple Pay practices, outcomes may reshape tech and payment industry competition.
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