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PayPal hit with antitrust lawsuit over alleged competition suppression
source link: https://nextbigwhat.com/paypal-hit-with-antitrust-lawsuit-over-alleged-competition-suppression/
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Home PayPal hit with antitrust lawsuit over alleged competition suppression
PayPal hit with antitrust lawsuit over alleged competition suppression
- PayPal is facing a class action lawsuit, led by law firm Hagens Berman, accusing the company of stifling competition against lower-cost platforms like Stripe and Shopify through its anti-steering rules.
- The lawsuit alleges that PayPal’s merchant agreements lead to consumers paying more for purchases, and that merchants are prohibited from offering discounts for other payment options or suggesting other methods are more cost-effective.
- The suit, filed in the U.S. District Court for the Northern District of California, compares PayPal’s rules to those previously imposed by Visa and Mastercard, which were sued by the Department of Justice in 2010.
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