Apple sued for blocking iOS payment app from using encryption

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Author: Martin Young, Cointelegraph; Compiler: Songxue, Jinse Finance

Disgruntled consumers have filed a class-action lawsuit against Apple, claiming the tech giant conspired to limit peer-to-peer payment options on its devices and prevent iOS payment apps from using encryption.

The lawsuit filed in the California District Court on November 17 claimed that Apple entered into anti-competitive agreements with PayPal’s Venmo and Block’s Cash App to restrict the use of decentralized cryptocurrency technology in payment applications, causing users to pay “rapidly rising fees.” ".

“These agreements limit feature competition and resulting price competition across the market, including prohibiting the incorporation of decentralized cryptocurrency technology into existing or new iOS peer-to-peer payment applications,” the document states.

The plaintiffs also claim that Apple uses "technical and contractual restrictions," including hardware-enforced App Store exclusivity and "contractual restrictions on web browser technology," to "enforce control over every app installed and running on iPhone and iPad." Unrestricted control”.

With these restrictions in place, Apple can and does force newly launched iOS P2P payment apps to ban cryptocurrencies “as a condition of entry,” the lawsuit claims.


Excerpts from a lawsuit accusing Apple of restricting decentralized payments technology. Source: PACER

The plaintiffs claimed that they were customers who paid excessive fees due to Apple’s trade restrictions on the iOS P2P payment market.

They seek compensation for excessive fees and excessive charges resulting from Apple's alleged anti-competitive conduct, as well as injunctive relief prohibiting the company from continuing to enter into and enforce anti-competitive agreements that restrict competitors and potential entrants in the iOS P2P payments market.

The 58-page class action lawsuit details the history and rise of peer-to-peer payment apps and decentralized cryptocurrencies, as well as Apple’s entry into the market.

In April, the Ninth Circuit Court of Appeals ruled that Apple violated California competition law by not allowing apps to direct users to non-Apple-affiliated payment solutions.

Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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