Another day, another lawsuit. Apple has been ordered to face a private antitrust lawsuit by payment card issuers accusing the company of thwarting competition for its Apple Pay mobile wallet, reports Reuters.
U.S. District Judge Jeffrey White said the plaintiffs — Illinois’ Consumers Co-op Credit Union and Iowa’s Affinity Credit Union and GreenState Credit Union — could try to prove that Apple violated the federal Sherman antitrust law by enforcing a 100% monopoly over the domestic market for tap-and-pay wallets for iPhones, iPads and Apple Watches. The Oakland, California-based judge also dismissed a “tying” claim, which accused Apple of requiring purchasers of iOS devices to buy Apple Pay or forego purchases of competing wallets.
The Sherman Antitrust Act of 1890 is a United States antitrust law which prescribes the rule of free competition among those engaged in commerce. It was passed by Congress and is named for Senator John Sherman, its principal author.
