Apple is facing a legal battle with Texas-based company Fintiv, which has filed a lawsuit in federal court in Atlanta, accusing the tech giant of using stolen trade secrets in the development of Apple Pay.


What Fintiv Claims:

  • The technology behind Apple Pay was originally developed by CorFire, a company Fintiv acquired in 2014.

  • According to the complaint, Apple held multiple meetings with CorFire between 2011 and 2012 and signed non-disclosure agreements to explore licensing CorFire’s mobile wallet technology.

  • Instead of pursuing a proper licensing agreement, Fintiv claims Apple used confidential information and allegedly hired CorFire’s key employees in 2014 to work on Apple Pay.

  • Apple then built Apple Pay into a major revenue stream, collecting significant fees from financial institutions like Bank of America, Capital One, Citigroup, JPMorgan Chase, Wells Fargo, as well as payment networks including American Express, Mastercard, and Visa.


“This is a case of monumental corporate theft and extortion,” Fintiv stated in the lawsuit. The company is seeking compensatory and punitive damages, citing violations of federal law, Georgia’s trade secrets law, and the RICO Act. Apple is the sole defendant.

Fintiv has been legally pursuing Apple for several years. The company claims that Apple has a pattern of behavior: entering into business talks to gain access to confidential information, poaching key employees, and repurposing proprietary technology for its own commercial gain.

According to Fintiv’s attorney Marc Kasowitz, this is “one of the most flagrant examples of corporate misconduct” he has seen in nearly five decades of legal practice.

What Came Before?

Earlier this year, a judge dismissed one of Fintiv’s patent-related cases against Apple concerning mobile wallet technology. Fintiv has announced plans to appeal the dismissal. The latest lawsuit marks a new chapter, aiming to recover damages and expose the extent of Apple’s alleged misuse.

Conclusion:

Fintiv’s lawsuit once again raises critical questions about ethics and fair competition in the tech industry. Apple must now defend its innovations and prove they are not the result of misappropriated intellectual property.

#Apple , #ApplePay , #lawsuit , #worldnews , #Payments

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