credit card issuers

Banks and credit unions are reportedly banding together to push back against the fees they say Apple charges through Apple Pay, as an antitrust lawsuit over the practice moves forward. The legal challenge targets the commission structure Apple imposes on card issuers for transactions made with its payment service. The outcome could reshape how banks and mobile wallet providers split revenue on contactless payments in the United States.

Banks and credit unions are joining forces to challenge fees tied to Apple Pay, as an antitrust lawsuit against Apple over its payment practices advances. The case targets the fees Apple charges card issuers for access to its tap-to-pay system, and the move signals growing resistance from financial institutions to what they view as unjustified charges.

The Wall Street Journal examines a growing middle tier in the credit card market: cards priced below true premium products but above basic no-fee options. These 'almost-premium' cards offer some travel perks and rewards at a lower annual fee, as issuers compete for customers who want benefits without top-tier costs.

The Wall Street Journal reports on the growth of 'almost-premium' credit cards — cards that sit between basic no-fee products and high-end travel cards, offering some perks and mid-level annual fees. Issuers are increasingly targeting consumers who want a taste of premium benefits like credits and lounge access without paying top-tier prices, reshaping the card market's middle segment.