Disgruntled consumers have filed a class-action lawsuit against Apple, accusing the tech giant of engaging in anti-competitive practices. The lawsuit alleges that Apple conspired with PayPal’s Venmo and Block’s Cash App to limit peer-to-peer payment options and block decentralized cryptocurrency technology from iOS payment apps. According to the complaint, these agreements have resulted in inflated prices for users. The plaintiffs also claim that Apple exercises control over every app installed on iPhones and iPads through hardware-enforced App Store exclusivity and contractual limitations on web browser technology. As a result, new iOS P2P payment apps are allegedly forced to exclude crypto as a condition for entry. The lawsuit seeks to recover excessive fees and overcharging and requests injunctive relief to prevent Apple from entering into and enforcing anticompetitive agreements. This class action provides a detailed history of peer-to-peer payment apps, decentralized cryptocurrencies, and Apple’s involvement in this market. In a related development, the Court of Appeals for the Ninth Circuit recently ruled that Apple violated California’s competition laws by not allowing apps to direct users to non-Apple linked payment solutions.
This News Article was automatically generated by Bob the Bot (AI)
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | |
| Sentiment | negative |
| Relevance Score | 1 |
| People | None |
| Companies | PayPal’s Venmo, Apple, Court of Appeals for the Ninth Circuit, Block’s Cash App |
| Currencies | Bitcoin |
| Securities | None |
