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2w ago

Fintiv Files Federal RICO and Trade Secret Lawsuit Against Apple Over Apple Pay

Fintiv is shifting its fight to Georgia with a racketeering suit that follows last week’s dismissal of its patent claims in Texas

A women uses an iPhone mobile device as she passes a lighted Apple logo at the Apple store at Grand Central Terminal in New York City, U.S., April 14, 2023. REUTERS/Mike Segar/ File Photo
Fintiv sues Apple over Apple Pay and trade secret claims

Overview

  • Fintiv filed a complaint in the Northern District of Georgia accusing Apple of violating federal and Georgia RICO statutes and trade secret laws by allegedly stealing mobile wallet technology.
  • The lawsuit claims Apple obtained confidential technical data under NDAs with CorFire between 2011 and 2012 and then hired away key employees before launching Apple Pay in 2014.
  • Fintiv’s new suit shifts its multi-year fight from a Texas patent infringement case—recently dismissed by a judge—to broader allegations of organized fraud and misappropriation.
  • The complaint cites parallels with Masimo’s lawsuit over Apple Watch blood-oxygen features to illustrate a pattern of alleged trade secret theft.
  • Apple Pay generates billions in annual revenue and helped drive Apple’s market valuation above $3 trillion, underscoring the high stakes of the new litigation.