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Apple Pay to face antitrust lawsuit by payment card issuers

Economic Times

Economic Times · 1y ago

Apple Pay to face antitrust lawsuit by payment card issuers

Apple Pay to Face Antitrust Lawsuit by Payment Card Issuers A group of payment card issuers in the US including JP Morgan Chase, Citigroup, and Bank of America, are reportedly planning to file an antitrust lawsuit against Apple over the restrictions imposed on mobile payment competition. The lawsuit alleges that Apple's policies, which prevent issuers from accessing the NFC technology on iPhones, result in stifling competition and limiting customer choice.

Related News

Pause on the cards: Fintechs may take a hit as most banks stay away from BBPS

Economic Times

Economic Times · 1y ago

Pause on the cards: Fintechs may take a hit as most banks stay away from BBPS

Fintech startups, including Cred, PhonePe, BillDesk, and Infibeam Avenues, are expected to face disruption as a new regulation mandates credit card bill payments to be processed through a centralized billing network starting July 1. However, major card issuers in India, like HDFC Bank, ICICI Bank, and Axis Bank, have not yet activated the Bharat Bill Payment System (BBPS), potentially causing further complications in the industry.

The latest iOS beta makes it easier to use Apple Cash

The Verge

The Verge · 1y ago

The latest iOS beta makes it easier to use Apple Cash

The iOS 17.4 beta introduces a virtual card number for Apple Cash, allowing iPhone users to pay with Apple Cash even when Apple Pay is not available. This feature removes a major limitation of the built-in payment service. Users can set up the virtual card number easily through the Wallet app. The generated card information includes an expiration date and security code. Apple Cash still uses a separate card number for Apple Pay transactions. This feature is currently being rolled out to beta users.

DOJ says Apple's 'complete control' over tap-to-pay transactions stops innovation, cements its monopoly

TechCrunch · 1y ago

DOJ says Apple's 'complete control' over tap-to-pay transactions stops innovation, cements its monopoly

The U.S. Justice Department has filed an antitrust complaint against Apple, specifically targeting its financial business and the use of Apple Pay. The complaint alleges that Apple uses Apple Pay to stifle competition and innovation in the payment services industry, thereby generating billions of dollars in revenue annually. The DOJ argues that by controlling tap-to-pay functionality on iPhones, Apple prevents third-party development of mobile wallets and stifles the potential for new services and features. The complaint also claims that Apple's payment monopoly inhibits users' ability to switch to other smartphones.

Apple offers to settle EU antitrust charges on Apple Pay, sources say

Economic Times

Economic Times · 1y ago

Apple offers to settle EU antitrust charges on Apple Pay, sources say

Apple has reportedly offered to settle the European Union's antitrust charges related to Apple Pay. The tech giant has proposed certain commitments to address the concerns raised by the EU competition enforcer. The charges against Apple alleged that it practices anti-competitive behavior by limiting access to the NFC (Near Field Communication) technology on its devices for payments made through mobile apps other than Apple Pay. The company could face a fine of up to 10% of its global turnover if found guilty.

Apple must face consumer lawsuit over iCloud storage, US judge rules

Economic Times

Economic Times · 2m ago

Apple must face consumer lawsuit over iCloud storage, US judge rules

A California federal judge ruled that Apple must face a class action lawsuit accusing it of monopolizing digital storage by forcing iPhone users to utilize iCloud, allegedly leading to overpriced services. The judge's decision revived the case, allowing plaintiffs to argue that Apple's data storage mandates violated antitrust laws by restricting customer choices for backing up data. Apple's defense claims these measures ensure security, denying any wrongdoing, with the lawsuit still pending further litigation.

Apple will appeal contempt ruling in Epic Games case over App Store

Economic Times

Economic Times · 3m ago

Apple will appeal contempt ruling in Epic Games case over App Store

Apple is appealing a US judge’s ruling that requires opening its App Store to more competition. The ruling stems from a 2020 antitrust lawsuit by Epic Games, which claims Apple impeded developers’ efforts to redirect consumers to cheaper non-Apple payment options. US District Judge Yvonne Gonzalez Rogers found Apple in contempt for not complying with a previous order and recommended a criminal contempt inquiry. Apple disputed these claims and is seeking a review by the 9th US Circuit Court of Appeals.

US sues Apple, accusing it of maintaining an iPhone monopoly

Economic Times

Economic Times · 1y ago

US sues Apple, accusing it of maintaining an iPhone monopoly

The US Justice Department and 16 state attorneys general have filed an antitrust lawsuit against Apple, alleging that the tech giant violated antitrust laws by preventing other companies from offering applications that compete with Apple products and services. The lawsuit targets Apple's control over the iPhone ecosystem, claiming that the company has created an uneven playing field that hinders competition and hurts consumers and smaller companies. Apple has faced previous antitrust challenges but has effectively defended its business practices. This lawsuit represents the government's most significant challenge to Apple's reach and influence.

Apple to pay $25 million to settle lawsuit over Family Sharing feature

Economic Times

Economic Times · 1y ago

Apple to pay $25 million to settle lawsuit over Family Sharing feature

Apple has agreed to pay $25 million to settle a class-action lawsuit related to its Family Sharing feature. The lawsuit, filed in 2019, claimed Apple misrepresented the capability of using Family Sharing to share subscriptions to apps. Apple denied any misleading representations but settled the lawsuit, alleging that millions of consumers downloaded subscription-based apps under the impression they were available for Family Sharing, only to find out after payment that they were not. The settlement comes as Apple faces increasing scrutiny over its app store practices and treatment of developers.

US judge rules Apple violated order to reform App Store

Economic Times

Economic Times · 3m ago

US judge rules Apple violated order to reform App Store

A U.S. judge ruled that Apple violated a court order requiring increased competition in its App Store, stemming from an antitrust lawsuit by Epic Games. Judge Yvonne Gonzalez Rogers stated Apple didn't comply with the injunction to allow alternative app payment options, accusing Apple of stifling competition and overcharging commissions. She referred Apple to federal prosecutors for a criminal contempt investigation, following Epic Games' claims of Apple's non-compliance and imposition of a new 27% fee for external app purchases.

Brazil antitrust body rules Apple must lift restrictions on in-app payments

Economic Times

Economic Times · 9m ago

Brazil antitrust body rules Apple must lift restrictions on in-app payments

Brazilian antitrust regulator Cade has ordered Apple to remove restrictions on payment methods for in-app purchases as part of an ongoing investigation into a complaint by MercadoLibre. The complaint alleges that Apple imposes restrictions on the distribution of digital goods and in-app purchases, including banning third-party goods and services. Cade ruled that Apple must allow developers to offer alternative payment options outside the app and redirect buyers to external websites. Apple has 20 days to comply or face fines of R$250,000 ($43,000) per day. Apple and MercadoLibre have not commented on the matter.

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