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A U.S. District Judge Dismissed an Antitrust Lawsuit brought on by Venmo, owned by PayPal

10.0z Patently Legal

It's being reported this afternoon that United States District Judge Vince Chhabria dismissed an antitrust lawsuit brought against Apple by Venmo and Cash App customers over allegations the California company’s Apple Cash product was anti-competitive.

The lawsuit, initially filed on Nov. 17, 2023, in San Jose, sought to hold Apple accountable for its perceived monopolistic practices involving the Apple iOS App Store.

Per the complaint, Apple allegedly makes it difficult or impossible for competitors to the Apple Pay service to introduce desirable features such as integrating decentralized cryptocurrency payments into existing or new products and services.

As such, the complainants allege that Venmo, CashApp, and other existing or new services are unable to introduce features that would lead to competitive pricing and improved functionality for iOS end users.

Judge Chhabria granted Apple’s motion for dismissal on March 26, 20. According to the case filing, the complaint suffered from “several fatal issues.”

The filing goes on to state that the plaintiffs failed to establish what antitrust actions took place, nor did they establish why competitors such as Zelle weren’t included in the initial complaint. It also refers to the plaintiff’s suit as “speculative,” and outlines what the court perceives as a flawed premise. For more on this, read the full report by cointelegraph.

PayPal acquired the person-to-person payment tool company Venmo in 2013 for $800 million.

Side Note: In 2015, Patently Apple posted an IP report titled "Apple Working on new Apple Pay Wallet service for Person-to-Person Financial Transactions," a Venmo-like service.

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