My question is: what is the basis for asserting that this market failure is due to monopoly power? Is your argument that their excessive profits from the services provided result from anti-competitive behavior? If so, what specific anti-competitive behavior are you referring to?
The specific cited anti-competitive behaviors (from DOJ and EU Commission is) are related to violating anti-steering provisions (companies forbidden for directing towards other payments methods), tying and bundling (in-app purchase requirements), self-preferencing (obvious), "tap-to-pay" monopoly, and blocking third party app-stores.
