Apple sued by Venmo and Cash App customers over alleged antitrust violations

Apple is facing a proposed class action lawsuit filed by Venmo and Cash App customers who claim that the company abused its market power to limit competition for mobile peer-to-peer payments, resulting in consumers paying higher prices. The lawsuit alleges that Apple violated US antitrust law through its agreements with Venmo and Cash App, which limit feature competition and prohibit the use of decentralized cryptocurrency technology. The plaintiffs are seeking an injunction that could force Apple to divest or segregate its Apple Cash business. This lawsuit adds to Apple's recent antitrust troubles, including a ruling in September that payment card issuers can sue Apple over alleged anticompetitive practices involving its Apple Pay mobile wallet.