DOJ says Apple's “complete control” over tap-to-pay transactions stops innovation, cements its monopoly

In its wide-ranging antitrust complaint against Apple and its iPhone business, the U.S. Justice Department takes specific aim against Apple’s massive financial business, specifically how it uses Apple Pay to prohibit competition and make large amounts of money in the process, to the tune of billions in annual revenues.The DOJ alleges that is not only stifling competition among payment services, but it is potentially stifling innovation, since the fees that banks and others fork out to play with Apple Pay am ...