Shulou(Shulou.com)11/24 Report--

CTOnews.com, Nov. 21 (Reuters)-four consumers filed a class action lawsuit in federal court in San Jose, California on Friday, accusing Apple of opening only a small number of apps such as Venmo and Cash, resulting in a lack of competition and exorbitant transfer fees.

In the proposed class action, users of PayPal's Venmo and Block's Cash apps accused Apple of abusing its market power to curb peer-to-peer payment competition on mobile, causing money transfer fees to rise more than users expected.

CTOnews.com learned from the report that the four consumers who filed the class action lawsuit, respectively, from New York, Hawaii, South Carolina and Georgia, not only accused Apple of driving up transfer fees, but also accused Apple of preventing certain cryptocurrency applications from hitting App Store and stifling competition.

The class action requires Apple to open up its cryptocurrency wallet and to spin off or spin off its Apple Cash business to avoid further harming the peer-to-peer money transfer business of iOS users.

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