Banks and Credit Unions to Team Up Against Apple Pay Fees

U.S. banks and credit unions can join a class action against Apple for allegedly collecting up to $1 billion annually in tap-to-pay fees. The suit claims Apple charges 0.15% on credit card transactions and $0.005 on debit card transactions, and blocks other mobile wallets from accessing the iPhone’s NFC chip. Apple now allows developers to use the NFC chip in iOS 18.1. The lawsuit seeks repayment of past fees and an end to Apple’s fee policy.