Apple is getting sued by three credit unions over concerns for monopoly with the Apple Wallet app and Apple Pay.
it's got another one that will go ahead after a judge has rejected Apple's motion to dismiss it: we're talking about an antitrust lawsuit against Apple Pay.In this lawsuit, we've got three credit unions suing the Cupertino company, claiming it is a 100% monopoly on mobile wallets on iPhones and Apple Watches. This is by far an old issue, although the lawsuit is new.has been accused of holding a monopoly with other of its services as well.
All this means that if any bank or credit union wants their cardholders to be able to make contactless payments with iPhone or Apple Watch, they need to sign up to Apple Pay. And of course, Cupertino charges a fee on each transaction.On the other hand, Apple's defense against this is claiming this is irrelevant as people are free to use physical cards to make contactless payments. The company also highlights other mobile wallet options like QR codes.
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