Apple, Visa and Mastercard sued in antitrust class action over Apple Pay card fees

A propose class action trial has accused Apple of accepting A form of bribe Since Visa And MasterCard has ensure their dominance on point of sale payment map services For Apple Pay transactions, according to has Reuters. As A result, THE trial said merchants to have has been strength has pay upper fresh.

THE companies are be for follow-up by beverage retailer Mirage Wine & Spirits In Illinois on in the name of of "all merchants In THE United States that accepted Apple Pay as A method of payment has THE physical point of sale." According to has THE complaint, Apple do A agreement with Visa And MasterCard that did far with any of them incentive For he has develop It is own in competition point of sale transaction payment network Or allow other companies has TO DO to use of iPhone "faucet has pay" NFC Functionality with third party wallet applications. On THE iPhone, Apples own wallet application East THE only option. All of This has directed has swollen merchant costs, THE suit argues.

"In exchange For All right not has compete with Visa And MasterCard In THE Relevant Walk, THE two map networks Free Apple A very big And in progress species bribe," THE trial States. This bribe came as A percentage of THE two companies' transaction costs For credit And Speed map Payments do with Apple Pay. "Even as Apple Pay was In It is childhood, THE Entrenched Networks And Apple Understood that This bribe would be Rising has hundreds of millions of dollars by year."

Apple has has been accused of anti-competitive behavior with Apple Pay In THE pass For how he blocks third party to access has It is without contact payment technology. But earlier This week, Reuters reported that Apple can open up NFC to access In THE EU has avoid A GOOD In A case that has has been in progress Since 2020.