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Technology,
Antitrust & Trade Reg.

Jul. 20, 2022

Lawsuit accuses Apple of monopolizing mobile wallet market

“Apple propped up Apple Pay by requiring iOS users to use its Apple Pay service exclusively for tap and pay mobile wallet transactions, barring all would-be and free competitors from accessing the NFC interface needed to compete,” states the lawsuit.

Apple Inc. monopolizes the mobile wallet market with Apple Pay, an Iowa credit union claims.

Affinity Credit Union sued Apple Monday alleging the tech company unlawfully requires iOS users to exclusively use Apple Pay and prevents rival mobile wallets from competing.

“Apple did not secure preeminence for Apple Pay by building a better product,” Affinity claimed. “Rather, Apple propped up Apple Pay by requiring ...

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