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A group of unhappy customers has taken legal action against Apple, accusing the technology company of limiting peer-to-peer (P2P) payment options and blocking cryptocurrency technology in its iOS payment applications.
Allegations of Anti-Competitive Agreements
Filed on November 17 in a California District Court, the lawsuit alleges that Apple has made anti-competitive agreements with payment services like PayPal’s Venmo and Block’s Cash App. These agreements, according to the plaintiffs, prevent the use of decentralized cryptocurrency technologies in payment apps on iOS devices. The lawsuit suggests that these restrictions have led to increased prices for consumers.
Apple's Control Over iOS Payment Apps
The lawsuit further accuses Apple of employing both technological and contractual measures to maintain control over apps installed and run on iPhones and iPads. It asserts that Apple has enforced exclusivity through its App Store and placed limitations on web browser technology. The plaintiffs argue that these actions enable Apple to demand that new iOS P2P payment apps exclude cryptocurrency technologies as a condition of their presence on the platform.
Impact on Customers and Market Competition
The individuals bringing the lawsuit forward claim to be customers who have faced higher fees due to Apple’s restrictive trade practices in the iOS P2P payment market. They are seeking compensation for these excessive charges and a legal injunction to prevent Apple from continuing these alleged anticompetitive practices.
Historical Context and Legal Precedents
The 58-page class-action lawsuit details the development of peer-to-peer payment applications and decentralized cryptocurrencies, highlighting Apple's involvement in this sector. It references a significant legal decision from April by the Court of Appeals for the Ninth Circuit, which found Apple in violation of California’s competition laws for not allowing apps to direct users to payment solutions outside of Apple's ecosystem.
The case against Apple reflects growing concerns over large technology companies' influence on financial technologies and the implications for consumer choice and market innovation.
