Apple, other tech giants spark antitrust concerns with their new financial services

25 October 2022
Apple's new Pay Later feature along with services from Amazon, Google and Facebook are drawing attention from regulators.

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What about the power the financial firms already exploit now?

    • ?
    • Anonymous
    • sUS
    • 27 Oct 2022

    GrandCentral, 26 Oct 2022do us all a favor and stop being a conspiracy nut kthxSame to you as well. Do us all a favor and stop being a sheep.

      • ?
      • Anonymous
      • sUS
      • 27 Oct 2022

      blue, 26 Oct 2022People like you are the reason why innovation is too slow a... moreDon't be naive just like the believers of Defi. Look beyond what is fed to you. I'll give you an example. Blackrock. And an older but still relevant NSA.

        • ?
        • Anonymous
        • sUS
        • 27 Oct 2022

        Anonymous, 26 Oct 2022oh no, the government is afraid of competition :( how are ... moreWhy would the govt be afraid? The US gov colluded with silicon valley tech companies as per Snowden's expose. They are all in this together.

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          • Anonymous
          • tEZ
          • 26 Oct 2022

          Anonymous, 26 Oct 2022'By combining financial services with their existing b... moreoh yess you can fake report income some company or evading tax. its convenient

            • ?
            • Anonymous
            • pvk
            • 26 Oct 2022

            oh no, the government is afraid of competition :(
            how are they going to control every single transaction now?

              Anonymous, 26 Oct 2022What's happening is Apple (Apple Card) and Google (Goo... moreIn other words soon we will enter to era where something like Skynet in Terminator movie will controll the whole world, your existence even most common things you do in your life like feeding, drinking, breathing, sleeping, dreams etc.
              Or like VIKI in I Robot movie with Will Smith.

                UltraHD, 25 Oct 2022Can someone explain this to me in a normal way of writing l... moreYes can, someone can to be more specific, dont know that someone though , but pray for you someone will explain haha.

                  • ?
                  • Anonymous
                  • SpI
                  • 26 Oct 2022

                  'By combining financial services with their existing business, Big Tech firms can bring benefits to consumers. These might be innovative new offers with highly competitive pricing driven by increased efficiency, delivering healthy competition with incumbent financial services providers'

                  With APPLE ??????? They don't compete on price, they stiff people on price regularly.

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                    • AnonD-762416
                    • Sec
                    • 26 Oct 2022

                    Don't worry, drones. Apple will soon abolish that pesky antitrust law. Soon, Big Corp will decide everything for you and your will love it. Understand?

                      • b
                      • blue
                      • 0CN
                      • 26 Oct 2022

                      kek, 25 Oct 2022People like you is why corporations usually get their way. People like you are the reason why innovation is too slow and all our life is becoming more and more expensive.

                        • b
                        • blue
                        • 0CN
                        • 26 Oct 2022

                        hmm, 25 Oct 2022What is benefiting customers on these things ? I dont know ... moreThere is always someone in the middle. Either a bank or another company, as you have mentioned PayPal...

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                          • Anonymous
                          • u7V
                          • 26 Oct 2022

                          Anonymous, 26 Oct 2022The more eggs in one basket, the more control they have ove... morethat's why i always question myself about US and CN who is REAL capitalism and who is running FREE COMPETITION

                            Anders, 26 Oct 2022The political establishment is working with Big Tech to con... moredo us all a favor and stop being a conspiracy nut kthx

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                              • Anonymous
                              • Idu
                              • 26 Oct 2022

                              Simple terms don’t want big tech company have no limit on money you have and more benefits. Big Banks force government allow limited money you have in the bank, fee, medical, and tax

                                • ?
                                • Anonymous
                                • sUS
                                • 26 Oct 2022

                                Anders, 26 Oct 2022The political establishment is working with Big Tech to con... moreThey reinforced their collusion when Trump won in 2016 and had the loser Dems gather on a meeting with Silicon Valley execs. And managed to push their agenda along with the likes of CNN that was repeatedly exposed on video re: scripted recycling of Russian interference.

                                  Anonymous, 26 Oct 2022Google has many anti-trust practices in place which pigeon ... moreThe political establishment is working with Big Tech to control speech. The Biden admin is openly asking Big Tech to censor more. The 1st amendment prevents government from doing directly, so they and Big Tech stroke eachothers backs

                                    Big Tech had been using their power to influence and control markets for a decade and only now the people who are supposed to regulate them are suddenly concerned. They didn't care when Apple and Google banned Parler for apparently allowing violence yet most violent content is posted on Facebook and Twitter

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                                      • Anonymous
                                      • kcQ
                                      • 26 Oct 2022

                                      hmm, 25 Oct 2022What is benefiting customers on these things ? I dont know ... moreThe more eggs in one basket, the more control they have over you. If you disrespect them, get banned from their services, you are effectively "depersoned" and unable to function in our technological society.

                                        • ?
                                        • Anonymous
                                        • kcQ
                                        • 26 Oct 2022

                                        UltraHD, 25 Oct 2022Can someone explain this to me in a normal way of writing l... moreWhat's happening is Apple (Apple Card) and Google (Google Wallet) want to have their own debit cards, their own banks, for users to use and circumvent long-time financial institutions like Bank of America, Citizens Bank, Santander, Citi, etc. Yes, it's really foremost about banks being afraid of the advantage tech companies have with people, especially Google. However, anti-trust laws are also about protecting the common people from being pigeon-holed into centralized services without alternatives. For the sake of maintaining competition in the market, Apple, Google, and Meta are being scrutinized. If you are banned by Google for saying something that goes against Google's political philosophy, it would gate you out of many important services you need to survive in this era of technology. Some US state government services, like renewing your driver's license, cannot be done without reservations on Department of Motor Vehicles websites. Cheap Internet access via government provided devices are primarily Android devices, which are controlled by Google as Google requires all of these device manufacturers to include Google Play suite. It's an extremely dangerous precedent. Google would effectively have control over the US population and circumvent law.