Apple, Visa, and Mastercard are facing a class action lawsuit accusing them of conspiring to limit competition for point-of-sale payment card services, resulting in higher fees for merchants. The lawsuit claims that Apple made a deal with Visa and Mastercard to eliminate competition and inflate merchant fees. Additionally, Apple has been sued by payment card issuers, Venmo, and Cash App, for stifling competition in peer-to-peer payments. EU antitrust regulators have also accused Apple of hindering rivals' access to tap-and-go technology. Visa and Mastercard have faced a lawsuit over transaction fees and settled for $5.6 billion.
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