credit unions

Banks and credit unions are reportedly banding together to push back against the fees they say Apple charges through Apple Pay, as an antitrust lawsuit over the practice moves forward. The legal challenge targets the commission structure Apple imposes on card issuers for transactions made with its payment service. The outcome could reshape how banks and mobile wallet providers split revenue on contactless payments in the United States.

Banks and credit unions in the United States are forming a coordinated pushback against fees tied to Apple Pay, as an antitrust lawsuit over Apple's payment practices advances. The case challenges the cut Apple takes on transactions made through its wallet service, and financial institutions argue the fees raise their costs. The lawsuit moving forward has revived debate over Apple's control of mobile payments.

Banks and credit unions are preparing to join forces against the fees associated with Apple Pay, as an antitrust lawsuit over Apple's payment practices advances. The move signals growing resistance from financial institutions to the cut Apple takes on tap-to-pay transactions, with the case likely to shape how mobile wallet fees are structured in the United States.

Banks and credit unions are reportedly joining forces to push back against the fees Apple charges for its Apple Pay service. The move signals growing resistance among financial institutions to the cut Apple takes on card transactions. The story is drawing attention and debate among technology and finance commentators.