by Apple, Mastercard and Visa have successfully avoided a lawsuit that claimed that the companies were working together to maintain the current status quo in Point-of-Sale payment card services, Reuters Reports. The original 2023 right case brought by drink retailer Mirage Wine and Spirits claimed that Apple essentially accepted bribes not to develop its open payment network or not to open the NFC-based “Tap to Pay” functionality of the iPhone.
The judge in the case finally rejected it on a lack of evidence that Apple once intended to offer his own payment network. Apple works with both Visa and MasterCard’s payment networks to process transactions via Apple Pay. The relationship of the company with the two financial service provider is expanding to its other financial products – the Apple Cash Card in Apple Wallet is a visa and the Apple Card credit card is a Mastercard – and has been around since the beginning. The New York Times Reported in 2014 that Mastercard, Visa and American Express were all part of the original development of Apple Pay.
The lawsuit of 2023 claims that both Mastercard and Visa Apple paid to maintain that relationship and their own dominance. The iPhone maker was “15 basic points paid (i.e0.15 percent) about the value of all American credit transactions and 0.5 cents ($ 0.005) on all American debit, “according to the lawsuit. Apple’s restraint to opening NFC-TAP-to-Pay for external developers, was reportedly a different way in which the company had Mastercard and Visa’s position.
But those claims were argued, but it was not enough to convince the judge. He described them as “a whole series of indirect accusations”, according to ReutersAlthough he was at least open to the lawsuit that was changed and filled again in the future.
Since 2023, Apple has made at least one important change to how Apple Pay and NFC payments work. As part of its compliance with the Digital Market Act of the European Union, Apple NFC-to-Pay transactions opened for every developer who built their own contactless payment system, whether in Europe, the US or the UK.
