The Cupertino, California-based tech company said in a filing on Friday in California federal court that the four Venmo and Cash App users who filed the antitrust lawsuit had not cited any unlawful app rules or business agreements.
The lawsuit, filed in November, said Apple’s restrictions on cryptocurrency technology have harmed competition for peer-to-peer payments and pushed up fees for cash and credit card transactions at PayPal’s Venmo and Block’s Cash App. Apple is the sole defendant in the lawsuit.
Apple’s filing said the lawsuit was based on a “highly speculative hypothesis” that it had caused consumers to pay inflated fees. It said the complaint failed to show how cryptocurrency transactions “are reasonable substitutes for instant cash and credit card transactions offered by Venmo and Cash App.”
A spokesperson for Apple and attorneys for the plaintiffs did not immediately respond to requests for comment on Monday.
Peer-to-peer payment apps let a user send money via a mobile device directly to the account of another user.
The plaintiffs claim Apple, Venmo and Cash App "have repeatedly raised prices for transactions and services with no competitive check." The lawsuit said Apple has excluded at least two Bitcoin wallet apps.
Apple defended its app guideline for developers that involves crypto technology, arguing that it imposes licensing criteria but does not outright prohibit apps that facilitate cryptocurrency transactions.
The case is among several other actions accusing Apple of antitrust violations.
A federal judge in September said payment card issuers can sue Apple over alleged anticompetitive practices involving its Apple Pay mobile wallet.
The case is Lamartine Pierre et al v. Apple Inc, U.S. District Court, Northern District of California, No. Case 5:23-cv-05981.
For plaintiffs: Yavar Bathaee and Brian Dunne of Bathaee Dunne
For Apple: Belinda Lee and Sarah Ray of Latham & Watkins
Read more:
Judge certifies Apple app store class action
Apple sued with Visa, Mastercard in card-fee antitrust case
Venmo, Cash App users sue Apple over peer-to-peer payment fees
Apple is ordered to face Apple Pay antitrust lawsuit
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