Thousands of banks can now sue over Apple Pay fees in one antitrust case
Thousands of U.S. banks and credit unions can pursue their Apple Pay fee claims together after a federal judge certified their antitrust lawsuit as a class action. Using Apple Pay at a payment terminal The financial institutions accuse Apple of blocking competing tap-to-pay wallets on iPhone while charging card issuers fees for transactions. They argue Apple could impose those fees because rival…
A federal judge has officially approved a class-action lawsuit filed by thousands of U.S. banks and credit unions against Apple, seeking compensation for fees associated with Apple Pay. The plaintiffs argue that Apple is unlawfully blocking competing contactless payment systems on iPhones while charging card issuers transaction fees for using Apple Pay.
Apple disputes these claims, but the judge has ruled in favor of certifying the class action, rejecting the tech giant's efforts to exclude the plaintiffs' damages expert. The lawsuit centers around Apple's 0.15% fee on credit card purchases made through Apple Pay and a half-cent charge per debit transaction. For instance, a $100 credit card purchase through Apple Pay would cost the card issuer $0.15 in fees.
This ruling does not determine whether Apple violated antitrust laws or if the card issuers owe Apple any money.
Written by urgent.news from AppleInsider's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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