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Apple Wins Dismissal in Payments Conspiracy Lawsuit
Apple has successfully secured the dismissal of a federal lawsuit accusing it of conspiring with Visa and Mastercard to suppress competition in the...
Apple has successfully secured the dismissal of a federal lawsuit accusing it of conspiring with Visa and Mastercard to suppress competition in the payments network industry and inflate merchant transaction fees (via Reuters). In the original complaint, plaintiffs argued that Apple's long-standing exclusive reliance on these networks constituted evidence that the company had foregone competition in exchange for a steady stream of payments. They further alleged that Apple's control over its iPhone's NFC (near-field communication) hardware, which facilitates tap-to-pay transactions, effectively blocks third parties from launching alternative payment solutions on the device, further entrenching Visa and Mastercard's market position.
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