The First Apple Union Deal Has Formed

Apple and the International Association of Machinists have reached a labor deal that must be ratified by a vote of the 85 workers who are stationed in its Towson, Maryland, store.

“By reaching a tentative agreement with Apple, we are giving our members a voice in their futures and a strong first step toward further gains. Together, we can build on this success in store after store and grow the power (the union) has started here in Maryland.”

The Machinists Union via CNN

This is officially the first labor agreement for Apple retail workers in the U.S. This deal follows the store’s union vote in June 2022 and includes scheduling improvements, a 10% pay increase over three years, severance guarantees, and limits on contract employees.

Apple has about 270 U.S. stores, with another store in Oklahoma City having also voted to unionize but under a different union. Apple did not comment specifically on the deal but has previously stated it values its team members and offers competitive compensation.

According to the Associated Press, “Apple has reached a tentative collective bargaining contract with the first unionized company store in the country.”

Furthermore, Apple recently unveiled several updates to Apple Pay, enhancing its digital wallet features and signaling a deeper partnership with financial institutions.

Key updates include:

• Transaction Fees: U.S. banks will pay Apple a 0.15% fee per credit card transaction made through Apple Pay.
• Card Rewards: Users can now redeem credit card rewards points for purchases, adding value to loyalty programs and increasing customer engagement.
• Buy Now, Pay Later (BNPL): Banks can offer BNPL installment payments through Apple Pay, allowing users to convert purchases into installment plans directly at the point of sale.
• Expanded Payment Options: Apple Pay will now support payments via third-party browsers using a scannable code, broadening its reach in e-commerce.

These updates help banks integrate their credit products into various retail and e-commerce platforms while enabling them to compete with other BNPL providers and new payment methods.