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Apple, Visa, Mastercard accused in US antitrust case of conspiring to keep payment service competition off iPhone

( December 14, 2023, 19:39 GMT | Official Statement) -- MLex Summary: Apple has been accused of illegally conspiring with Visa, Mastercard, and other credit card companies to block third parties from accessing certain security hardware in the iPhone in exchange for the companies paying a portion of their fees they generated on point-of-sale payments using Apple Pay. The US complaint alleges that as a result of the agreement, merchants have paid inflated fees for use of entrenched networks’ point-of-sale transaction payment systems.See document below. ...

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