I may be missing something, but from the article it seems that the lawsuit alleges that Apple a) does not allow third party NFC payments, and b) they charge banks a fee for using Apple Pay, which could result in these fees being passed to consumers.
While the first point has not been true since 2024, the second is a bit odd to me, since banks and credit card issuers have been collecting a percentage of sales from merchants since forever. My question is, why wouldn't this lawsuit apply to the oligopoly banks and credit providers hold on the traditional point of sale?
Card networks and banks are definitely oligopolies. 90% of the card market is in the hands of two companies, MasterCard and Visa, and three banks effectively own the consumer banking market, Lloyds, HSBC and Barclays.
Again, it’s odd to me that this organization is going after Apple when they themselves are saying that these supposed hidden fees are being passed from banks to consumers. Shouldn’t they go after these banks, then? Why aren’t they suing Visa and MasterCard, when their business model is supposedly the same?
> Why aren’t they suing Visa and MasterCard, when their business model is supposedly the same?
Because, again, they are not a monopoly.
"The lawsuit takes aim at Apple Pay, which they say has been the only contactless payment service available for iPhone users in Britain over the past decade."
But that’s not true. As I said, it was made available to third parties in 2024.
Again, it’s disingenuous to claim that Apple is a monopoly, while ignoring the fact that two companies have dominated the entire card network market for decades. Also, there’s no such thing as a “monopoly” on payments in their own platform. If that were true, anyone could sue American Express, the payment network, for not offering Visa cards. Completely absurd.
“Monopoly” is a legal term, not something anyone can make up on the go.
Anyway, it’s quite clear to me that this lawsuit, if it was truthfully about damages to consumers, should have been directed towards banks and credit card issuers.
While the first point has not been true since 2024, the second is a bit odd to me, since banks and credit card issuers have been collecting a percentage of sales from merchants since forever. My question is, why wouldn't this lawsuit apply to the oligopoly banks and credit providers hold on the traditional point of sale?