• Discontented consumers file a class-action lawsuit against Apple, accusing the tech giant of anti-competitive practices.
• Claims assert Apple conspired to limit peer-to-peer (P2P) payment options and block crypto technology in iOS payment apps.
• The lawsuit seeks damages, contending users paid inflated fees due to Apple's anti-competitive conduct.
• Plaintiffs demand injunctive relief to halt Apple's anti-competitive agreements, ensuring fairness in the iOS P2P payment market.

Disgruntled consumers have made a class action lawsuit against Apple for its anti-competitive practices which limited peer-to-peer payments and made it difficult to integrate crypto in the iOS payments app.

The lawsuit, filed in a California District Court on November 17th, alleges that Apple entered into agreements with PayPal's Venmo and Block's Cash App, resulting in restricted use of decentralized cryptocurrency technology in payment apps. This, according to plaintiffs, led to users paying "rapidly inflating prices."

The lawsuit further alleges that Apple uses “technological and contractual restraints” such as App Store monopoly and restrictions on web browser technology to maintain unfettered control of app availability on iPhones and iPads.

The legal complaint asserts that these constraints empower Apple to coerce new P2P payment apps entering the iOS market to exclude crypto "as a condition for entry." Plaintiffs, identifying as consumers adversely impacted by these alleged practices, seek compensation for inflated fees caused by Apple's restraints.

The lawsuit further demands injunctive relief to prevent Apple from continuing anti-competitive agreements that hinder competitors and potential entrants in the iOS P2P payment market. In this respect, it is worth mentioning that this legal remedy comes shortly after a judgment issued by the U.S. Court of Appeal for the Ninth Circuit that concluded Apple violated California consumer protection acts. The 58-page lawsuit provides an in-depth exploration of the history of P2P payment apps, decentralized cryptocurrencies, and Apple's involvement in the market. The outcome of this legal battle holds potential ramifications for the future landscape of P2P payments and the role of crypto technology within iOS apps.