Apple’s Tap-to-Pay Control Criticized by DOJ for Stifling Innovation and Solidifying Monopoly
Apple Pay is no stranger to regulatory controversy.
PayPal — the payments behemoth that has substantial businesses in mobile transactions and point-of-sale technology — was apparently instrumental in the original EU complaint around Apple’s payment monopoly.
The DOJ’s argumentApple today takes a 0.15% fee on any transaction made via Apple Pay.
In the meantime, Apple has continued to develop Apple Pay, launching — for example — its own buy now, pay later offering last autumn (pictured above).
Apple Pay and Apple Wallet are both a small part of Apple’s services revenues — which were upwards of $90 billion in 2023 — or indeed overall revenues.
