Apple faces potential class action lawsuit in the US over Apple Pay anticompetitive practices

Iowa’s Affinity Credit Union is suing Apple over what it alleges is anticompetitive conduct in how it operates Apple Pay. This may turn into a class action lawsuit and is similar to a charge in the EU last year. The charge is this – Apple “coerces” owners of its phones, tablets and watches to use Apple Pay and prevents other payment services from competing on its platforms. This has lead to 4,000 banks and credit unions in the US to use Apple Pay and pay at least $1 billion of excess fees each year. Apple charges a 0.15% fee on credit transactions and a flat 0.5 cent fee on debit...

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