Apple hit with EU antitrust charge over mobile payments technology – Arab News

• Apple Pay is used by more than 2,500 banks in Europe and over 250 fintechs and challenger banks

BRUSSELS: Apple faces a possible hefty fine and may have to open its mobile payment system to competitors after EU antitrust regulators charged the iPhone maker with restricting rivals’ access to its technology used for mobile wallets.
This marks the second EU charge against Apple after EU regulators last year accused the company of distorting competition in the music streaming market following a complaint from Spotify.
The European Commission said on Monday 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.
The Commission said Apple’s anti-competitive practices dated back to 2015 when Apple Pay was launched.
“We have indications that Apple restricted third-party access to key technology necessary to develop rival mobile wallet solutions on Apple’s devices,” EU…

Read Full Story: https://www.arabnews.com/node/2074521/media

The post Apple hit with EU antitrust charge over mobile payments technology – Arab News first appeared on SEO, Marketing and Social News | OneSEOCompany.com.

source: https://news.oneseocompany.com/2022/05/02/apple-hit-with-eu-antitrust-charge-over-mobile-payments-technology-arab-news_2022050218977.html

Your content is great. However, if any of the content contained herein violates any rights of yours, including those of copyright, please contact us immediately by e-mail at media[@]kissrpr.com.