Apple Hit With EU Antitrust Charge Over Its Payment Technology
Monday, 02 May 2022 06:54 AM
EU antitrust regulators charged Apple on Monday with restricting rivals' access to its NFC chip technology in a move that could result in a hefty fine for the iPhone maker and force it to open its mobile payment system to competitors.
The European Commission said it had sent a charge sheet known as a statement of objections to Apple, detailing how the company had abused its dominant position in markets for mobile wallets on iOS devices.
"We have indications that Apple restricted third-party access to key technology necessary to develop rival mobile wallet solutions on Apple's devices," EU antitrust chief Margrethe Vestager said in a statement.
"In our statement of objections, we preliminarily found that Apple may have restricted competition, to the benefit of its own solution Apple Pay," she said.
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READ MORE: https://www.newsmax.com/newsfront/apple-eu-payment-technology/2022/05/02/id/1068031/