A class-action lawsuit against Apple Pay has filed. This lawsuit sued Apple of having an illegal monopoly on contactless payments on iPhones, requiring card issuers to pay a fee. Affinity Credit Union, which issues debit and credit cards that are compatible with Apple Pay, filed the lawsuit. The company’s lawyers have decided to make them sue a class action so that more card issuers can join the fight against Apple.
A class-action lawsuit has filed against Apple Pay. This sued accuses Apple of allegedly having an illegal monopoly over contactless payments on iPhones. Which forces card issuers to pay a certain fee.
According to The Verge, Apple earns more than $1 billion per year. By charging credit card companies 0.15 percent on each transaction as Apple Pay fees. The companies have determined that when their customers use Android wallets. They do not have to pay anything.
They sued Apple of breaking antitrust laws by making Apple Pay the only service capable of accepting NFC payments on its iPhones, iPads, and Apple Watches. Apart from Apple Pay, this automatically leaves iPhone users with no other cheaper option.
Lawsuit against Apple
Furthermore, Apple prevented card issuers from charging customers a 0.15 percent fee on every transaction, allowing iPhone owners to avoid having to find a cheaper payment method. According to reports, a similar antitrust issue arose in the Epic Games lawsuit against Apple, where Apple Pay flexed its monopoly on iOS devices for “Tap and Pay iOS mobile wallets,” limiting third-party app developers’ ability to carry out NFC functions. Even if a judge agrees that this is correct, they may still decide that there is no true monopoly because customers can always switch to Android, where other mobile wallets exist, which may be an unsatisfactory decision for the plaintiff.
