Apple allegedly stole tech for mobile payments: Here's the truth
Fintiv, a Texas-based mobile wallet company, is taking Apple to court, claiming the tech giant stole its confidential technology to build Apple Pay.
According to Fintiv, Apple met with its predecessor CorFire under nondisclosure agreements back in 2011 and 2012 but instead of working together, Apple allegedly hired away key staff and used Fintiv's trade secrets to launch Apple Pay in 2014.
Fintiv accuses Apple of racketeering scheme
Fintiv says Apple's move helped it make billions from iPhones, iPads, Watches, and Macs without ever paying for the tech.
The lawsuit also accuses Apple of teaming up with major banks and credit card networks in what Fintiv calls a racketeering scheme—breaking federal laws meant to protect trade secrets.
Filed in Georgia's federal court, the case is still active; meanwhile, a related patent suit was dismissed this August but Fintiv plans to appeal.
So far, Apple hasn't commented on the allegations.