“Apple, Visa, and Mastercard Sued Over Apple Pay Fees in Class Action Lawsuit!”

A Recent Lawsuit Alleges Apple Received Bribe from Visa and Mastercard

A recent lawsuit has alleged that Apple received a bribe from Visa and Mastercard to maintain their dominance in point-of-sale payment card services for Apple Pay transactions, resulting in higher fees for merchants. The lawsuit, filed by Mirage Wine & Spirits in Illinois, claims that Apple’s agreement with Visa and Mastercard prevented competition and led to inflated merchant fees.

The Allegations and Bribe Details

The lawsuit accuses Apple of accepting a cash bribe from Visa and Mastercard in exchange for not competing with them in the payment card market. This bribe, based on a percentage of transaction fees, was estimated to amount to hundreds of millions of dollars annually, even in the early stages of Apple Pay.

Potential Changes in NFC Access

Apple has faced criticism for its anti-competitive practices with Apple Pay, particularly regarding third-party access to its contactless payment technology. However, there are reports that Apple may open up NFC access in the EU to avoid fines related to ongoing legal challenges since 2020.