Apple reaping massive illegal profits from Apple Pay fees on card issuers, lawsuit claims – Naples FL

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Apple has been hit with a class action lawsuit alleging that its Apple Pay policies illicitly allowed it to extract more than $1 billion in fees from card issuers.

Apple Pay

The complaint, lodged in the U.S. District Court for the Northern District of California on Monday, accuses the Cupertino tech giant of illegally profiting from pay card issuers and denying rivals access to the systems needed for a competing mobile wallet on iOS.