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News Explorer — Venmo and Cash App Users Have Sued Apple Over Peer-to-Peer Payments

Generated by AI, curated by humans

Nov 20, 4:20 pm

Reuters

Venmo and Cash App Users Have Sued Apple Over Peer-to-Peer Payments

Apple is facing a proposed class action lawsuit filed by Venmo and Cash App customers, alleging that the company abused its market power to stifle competition in mobile peer-to-peer payments. The lawsuit claims that Apple's agreements with Venmo and Cash App limit feature competition and prohibit the use of decentralized cryptocurrency technology. The plaintiffs are seeking an injunction that could require Apple to divest or segregate its Apple Cash business.

Apple is facing a proposed class action lawsuit filed by Venmo and Cash App customers, alleging that the company abused its market power to stifle competition in mobile peer-to-peer payments. The lawsuit claims that Apple's agreements with Venmo and Cash App limit feature competition and prohibit the use of decentralized cryptocurrency technology. The plaintiffs are seeking an injunction that could require Apple to divest or segregate its Apple Cash business.

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