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May 25, 2021

On the web

In Apple Antitrust Trial, Judge Signals Interest in Railroad, Credit-Card Monopoly Cases

Wall Street Journal

“The future of digital commerce on your iPhone could be influenced by how courts resolved questions about market control following technological innovations that disrupted previous generations: credit cards and railroads. With the courtroom battle between Epic Games Inc. and Apple Inc. concluded Monday , U.S. District Judge Yvonne Gonzalez Rogers must now decide if the iPhone maker has improperly prohibited third-party app stores and forced developers to use its in-app payment system that collects a commission as high as 30%. As she decides if Apple has operated an illegal monopoly, she’s already made it clear during the trial in Oakland, Calif., that she’s thinking about how previous precedent-setting cases involving American Express Co. and a St. Louis railroad apply to the new digital economy in the 21st century.”

December 18, 2020

On the web

Apple Pay draws antitrust attention

Financial Times (paywall)

“Apple’s next antitrust battle is shaping up to be over Apple Pay, the company’s digital wallet, as the Covid-19 pandemic turbocharges use of contactless payments…Apple Pay allows users to store their payment card details on their iPhone or Apple Watch and to pay by tapping on a terminal. It is now used by 507m people, according to analysts at Loup Ventures, or roughly half of the people in the world who own an iPhone, up from just 67m four years ago.”

December 8, 2020

On the web

U.S., States Poised to Sue Facebook for Monopoly Abuse

Bloomberg (paywall)

Facebook Inc. will soon be hit by federal and state antitrust lawsuits accusing the social media giant of abusing its dominance and thwarting competition, according to three people familiar with the matter. Lawsuits are expected as soon as this week from the Republican-led Federal Trade Commission and a group of state attorneys general led by New York’s Letitia James, a Democrat, according to the people, who described the plans under condition of anonymity.”

China regulator puts country’s fintech giants on notice hinting at more rules

CNBC

“China’s top banking regulator on Tuesday questioned the power of the country’s large financial technology companies and hinted at “timely and targeted measures to prevent new systemic risks.” The move appears to be a nod toward more regulations in China’s burgeoning fintech sector.   Over the past few months, Chinese regulators have been growing increasingly concerned about the size of its technology giants and have proposed draft rules to regulate areas including data use and antitrust.”

December 4, 2020

On the web

Apple Pay limitations spark Dutch antitrust probe

Forbes

“The Dutch competition regulator has opened an investigation into contactless payments on smartphones, arguing that some systems could stifle innovation in the payments market. There’s no named target for the probe, as per the watchdog’s usual procedures, but the release suggests Apple and its iPhones are the focus.”

November 10, 2020

On the web

November 5, 2020

On the web

Justice Department Files Antitrust Lawsuit Challenging Visa’s Planned Acquisition of Plaid

Wall Street Journal (paywall)

“The Justice Department filed an antitrust lawsuit Thursday that seeks to block Visa Inc.’s$5.3 billion deal to acquire Plaid Inc., a key player in the financial-technology space.The department brought the case in a Northern California federal court, alleging the deal would eliminate the nascent but significant competitive threat that Plaid poses to Visa in the online debit market.The acquisition would allow Visa to unlawfully maintain a monopoly in online debit, leading to higher prices, less innovation and higher entry barriers for online debit services, the department alleged.”

October 27, 2020

On the web

Visa’s Planned Purchase of Plaid Faces Antitrust Scrutiny at the Justice Department

Wall Street Journal (pay wall)

Visa Inc.’s $5.3 billion deal to buy a key player in the financial-technology space is in jeopardy because of antitrust concerns, according to people familiar with the matter. The Justice Department could decide soon whether it will sue to block Visa’s acquisition of Plaid Inc., a firm that provides the technological infrastructure underpinning an array of next-generation financial apps . After spending the better part of the year scrutinizing the deal, the department is concerned it could limit nascent competition in the payments sector, people familiar with the matter said. The Justice Department has been making preparations for potential litigation, including lining up potential witnesses for a trial, some of the people said. No final decision has been made. Representatives of Visa, Plaid and the Justice Department declined to comment.”

August 20, 2020

On the web

Justice Department’s Antitrust Chief Plans Shake Up for Stronger Enforcement

Wall Street Journal (paywall)

“On the financial front, the Justice Department’s oversight and enforcement has been fragmented for years, with areas like banks, credit cards, insurance and securities exchanges each being handled by different sections within the antitrust division. Mr. Delrahim said he is bringing all of these areas into one cohesive group, with the goal of combining internal expertise and improving antitrust enforcement on financial issues.”

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