There is a class-action lawsuit that the iPhone's tap-to-pay feature is facing now, and the Affinity Credit Union is now proposing this case against Apple for its alleged monopolistic tactics on its payment systems. The new class-action lawsuit focuses on Apple's tactics that charge credit card companies an extra fee, and they earn millions for this venture.
iPhone Tap-to-Pay Lawsuit: Affinity Credit Union Raises Concerns
According to a report by Bloomberg, Apple will soon face a lawsuit from Affinity Credit Union that wants to make it class action so that other joiners would have stakes in bringing this against the company. Moreover, the report said that Apple earns billions from the 0.15 percent per transaction fees it charges these companies.
The iPhone's contactless payment via Apple Pay, known as "tap-to-pay," faces this new lawsuit, and it aims to bring the world a chance to link their credit cards to their smartphone for hassle-free payment. Affinity Credit Union said that Apple is charging a lot from fintech companies, which is too much for them as Android's similar system does not have any transaction fees.
Read Also : Apple and Google's 'Duopoly' over Mobile Markets is Anti-Competition - UK Regulator Claims
Apple Monopoly on Online Credit Card Payments?
According to The Verge, Affinity allegedly claimed that Apple is focusing on monopolistic tactics with its tap-to-pay transaction fees, something that is not seen on other platforms or features. However, this is not yet proven in a court of law and would have to deliberate on Apple's policies to determine if the company is indeed bringing this for everyone.
Apple and its Monopoly Cases
One of the massive disputes of Apple is with Epic Games, and here, the games developer pushed a lawsuit against Apple that focused on alleging that the company focuses on monopolistic tactics on the App Store. The case went as far as its CEOs throwing shade at each company, with Epic's Tim Sweeney calling Apple a monopoly during its previous suit.
Apart from the monopoly branding against Apple by many competitors and companies in the industry, the Cupertino giant also faces antitrust lawsuits from regulatory agencies regarding its many ventures. Several reasons include its App Store policies, pricing, and massive significance in the smartphone market.
Still, Apple is facing a lot of lawsuits and cases frequently, and the company faces them all in these times, focusing on its significant presence in the tech industry now. This case needs to meet the complaints from the plaintiff, and it would bring Apple to a new spotlight that focuses on its tap-to-pay venture via iPhones.
This article is owned by TechTimes
Written by Isaiah Richard
