TLDR:

Key points:

• The Department of Justice’s anti-trust lawsuit against Apple has significant implications for the fintech industry.
• The lawsuit focuses on Apple’s control over its financial offerings and its walled garden approach.

In a recent Fintech Nexus Newsletter, the spotlight was on the Department of Justice’s lawsuit against Apple, with experts comparing it to the Visa/Plaid deal. The lawsuit centers around Apple’s financial services and its closed ecosystem. In Europe, Apple has made concessions to allow developers access to the NFC chip for tap-to-pay services, prompting U.S. regulators to take action. If successful, the lawsuit has the potential to open up the market for more vendors and benefit consumers. The move is seen as a significant development in the fintech industry and could have lasting implications for the future.