In a complaint made public on Thursday, Fintiv said Apple Pay’s key features were based on technology developed by CorFire, which Fintiv bought in 2014, and now used in hundreds of millions of iPhones, iPads, Apple Watches and MacBooks.
Fintiv, based in Austin, Texas, said Apple held multiple meetings in 2011 and 2012 and entered nondisclosure agreements with CorFire aimed at licensing its mobile wallet technology, to capitalize on fast-growing demand for contactless payments.
Fintiv also said Apple has led an informal racketeering enterprise by using Apple Pay to generate fees for credit card issuers such as Bank of America, Capital One, Citigroup, JPMorgan Chase and Wells Fargo, and the payment networks American Express, Mastercard and Visa.
In a statement, Fintiv’s lawyer Marc Kasowitz called Apple’s conduct “one of the most egregious examples of corporate malfeasance” he has seen in 45 years of law practice.
Apple is the only defendant. CorFire was based in Alpharetta, Georgia, an Atlanta suburb.
Fintiv agreed to the dismissal, and plans to “appeal on the existing record,“ the records show.
The case is Fintiv Inc v Apple Inc, U.S. District Court, Northern District of Georgia, No. 25-04413. - Reuters
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