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> Apple didn’t force anyone to participate in Apple Pay We’re on different planets. > Banks got onboard because customers like the convenience … Banks in Aus
by LeonB 3y ago
> Apple didn’t force anyone to participate in Apple Pay
We’re on different planets.
> Banks got onboard because customers like the convenience
… Banks in Australia fought it for years.
Your point about 20% market share being enough demonstrates the point. There’s no set percentage of customers. The wielding of power alone demonstrates the issue.
- Retric 3y agoIt’s not 20% market share it’s a fraction of that 20% that would potentially use Apple Pay. We’re talking low single digit percentages of total customers which is worlds apart from monopoly power.
- LeonB 3y agoYou’re missing the point. There’s no magic percent of a market that proves or disproves the sort of behaviour that antitrust laws are designed to prevent.
- Retric 3y agoAnti trust laws aren’t designed to prevent behavior abstractly. If you have a 5% market share you’re allowed to do things that companies with a 95% market share are prohibited from doing. Similarly it’s not illegal to be a monopoly. The only thing monopoly laws are there to prevent is specific behaviors by monopolies. This is why companies argue they aren’t monopoles, because if they aren’t then the behavior is legal. This is why your car insurance company can offer discounts if you get a life insurance policy through them. The government supports insurance bundling etc because it’s actually economically beneficial as long as it’s not a monopoly trying to get into a new market.
- LeonB 3y agoWithout getting into nda territory — the minority of Australians who used iPhones in 2017 represented a figure that far exceeded 50% of wealth held in Australian banks. Thus apple had tremendous market power in “fact”, even if the raw numbers looked much smaller. So long.