Overview
- Fintiv’s complaint filed in the Northern District of Georgia on August 7 accuses Apple of violating federal and Georgia RICO statutes as well as trade secret laws, seeking compensatory and punitive damages.
- The suit alleges that between 2011 and 2012 Apple obtained CorFire’s confidential mobile-wallet designs under NDAs and recruited key employees to build Apple Pay, which launched in 2014.
- It portrays Apple’s partnerships with banks and payment networks including Bank of America, JPMorgan Chase, Visa and Mastercard as part of an informal racketeering enterprise that generated billions in fees.
- Fintiv claims Apple Pay’s core features—secure element technology, NFC and trusted service management—were derived from CorFire innovations.
- The complaint references a similar alleged scheme against Masimo involving Apple Watch blood-oxygen technology to support a pattern of trade secret misappropriation.