Fintiv, Inc. has filed a complaint against Apple, Inc. accusing it of large-scale theft of trade secrets regarding mobile wallet technology. Fintiv claims that from 2011 to 2012, Apple deceptively engaged in discussions with CorFire, its predecessor, to gather sensitive information under the pretext of a partnership. After gaining access to CorFire’s technology via a non-disclosure agreement, Apple allegedly abandoned the partnership and later integrated these trade secrets into its Apple Pay service launched in 2014. Fintiv criticizes Apple's actions as corporate theft and racketeering, noting Apple's collaboration with banks and credit card processors to benefit from this stolen technology.
Apple's theft of Fintiv's technology is part of a pattern and practice that Apple has engaged in for years: falsely pretending it wants to 'partner' with companies in order to steal confidential and proprietary information under the guise of a working relationship.
Over the course of 2011 and 2012, Apple representatives, under the guise of seeking to do a mobile payment business partnership with CorFire, had numerous meetings with CorFire employees at which the parties had detailed technical discussions regarding CorFire's implementation of its mobile wallet solutions and included information that CorFire uploaded onto an Apple maintained share site.
Apple fraudulently induced CorFire to enter an NDA enabling Apple to gain access to CorFire's mobile wallet technology and trade secrets. Apple then unlawfully exploited that access by incorporating into Apple Pay features previously found only in CorFire's proprietary secure element and mobile wallet technologies that were protected as confidential trade secrets.
Apple has formed an enterprise with credit card processors and banks in order to cash in on the stolen technology of Fintiv.
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