Banks and Credit Unions to Team Up Against Apple Pay Fees
An antitrust lawsuit accusing Apple of blocking tap-to-pay competition is moving forward and will see banks and credit unions able to band together to sue Apple. U.S. District Judge Jeffrey White this week certified a class in the lawsuit. It will include any U.S. entities that issued any payment card enabled for Apple Pay and paid Apple a fee for Apple Pay transactions on that payment card.
Summary
Banks and credit unions are joining forces to challenge Apple over fees associated with Apple Pay, following a judge’s decision to allow a class action lawsuit to proceed. This legal battle could redefine the landscape of payment processing and competition in the mobile payment sector.
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