Banks and Credit Unions Can Now Sue Apple Together Over Apple Pay Fees

Banks and Credit Unions to Team Up Against Apple Pay Fees

A U.S. judge has certified a class action allowing banks and credit unions that issue Apple Pay cards to sue Apple together. The 2022 lawsuit claims Apple illegally collects up to $1 billion a year by blocking rival mobile wallets from the iPhone's NFC chip, charging issuers 0.15% on credit and half a cent on debit transactions. Apple has since opened NFC access in iOS 18.1.