News > Apple’s getting sued for having a monopoly on the iPhone’s tap-to-pay

Apple’s getting sued for having a monopoly on the iPhone’s tap-to-pay

News-next | 19/07/2022 08:16 AM | Click to read full article

A proposed class action lawsuit is taking aim at Apple Pay, claiming that Apple has an illegal monopoly over contactless payments on the iPhone, letting it force card issuers into paying fees.

Apple makes over $1 billion a year charging credit card companies up to 0.15 per cent per transaction in Apple Pay fees, and yet those same card issuers don’t have to pay anything when their customers use “functionally identical Android wallets."