After an EU antitrust complaint, Apple is facing accusations related to Apple Pay

After an EU antitrust complaint, Apple is facing accusations related to Apple Pay

“Mobile payments play a rapidly growing role in our digital economy. It is important for the integration of European Payments markets that consumers benefit from a competitive and innovative payments landscape,” Executive Vice President of the European Commission Margrethe Vestager said in a statement.

The European Commission has released the preliminary findings of an antitrust investigation into Apple Pay on iOS devices. According to antitrust investigators, Apple abused its dominant position because competitors are unable to offer NFC-enabled contactless payments on the iPhone in order to develop other mobile wallets and compete fairly with Apple Pay. According to the Commission, NFC is a standard technology for contactless payments that should be available to everyone. Third-party developers can use APIs to read and write NFC tags, but they cannot use the NFC antenna in their apps to create Apple Pay competitors.

“We have indications that Apple restricted third-party access to key technology necessary to develop rival mobile wallet solutions on Apple’s devices. In our Statement of Objections, we preliminarily found that Apple may have restricted competition, to the benefit of its own solution Apple Pay. If confirmed, such a conduct would be illegal under our competition rules,” she added. According to Brussels regulators, the main issue is that NFC is available in almost all payments terminals but only Apple Pay can wirelessly communicate with payment terminals via NFC. It’s a standardized, safe and seamless way to pay, which could explain why Apple Pay gained market shares.

Today’s statement of objections is the result of an investigation that was formally opened in June 2020. At the time, the Commission announced it would look at Apple Pay as a whole. Apple Pay can also be used to pay online and in app. But the Commission now says the only issue is the restriction on NFC payments. “Apple Pay is only one of many options available to European consumers for making payments, and has ensured equal access to NFC while setting industry-leading standards for privacy and security,” Apple told Reuters in a statement.

The News Highlights

  • After an EU antitrust complaint, Apple is facing accusations related to Apple Pay
  • Check the latest update on Security news
  • .

Disclaimer: If you need to edit or update this news from compsmag then kindly contact us Learn more

For Latest News Follow us on Google News


Latest Headlines
  • Show all
  • Trending News
  • Popular By week
‘Replaced,’ an Xbox Game Pass 2.5D platformer, has been delayed until 2023
‘Replaced,’ an Xbox Game Pass 2.5D platformer, has been delayed until 2023
As mentioned above, the decision to push to 2023 is to ensure that “the game is in the best state it possibly can be” when it arrives on Xbox Game Pass, as ...
From June 1st, the cost of third-party car insurance will increase
From June 1st, the cost of third-party car insurance will increase
According to the revised rates notified by the MoRTH, private cars with an engine capacity of 1,000 cc will attract rates of Rs 2,094 compared to Rs 2,072 in ...
The launch of Google's Pixel foldable phone has been delayed even further, according to reports
The launch of Google’s Pixel foldable phone has been delayed even further, according to reports
A report back in November of last year showed that Google wouldn’t launch the foldable until possibly the second half of 2022 as shown by Google’s ...
[U] DuckDuckGo is collaborating with Microsoft on browser privacy
[U] DuckDuckGo is collaborating with Microsoft on browser privacy
As you’ll see in Gabriel’s responses, we actually do have a lot of existing protections for Microsoft scripts. That is, when most browsers on the market talk ...
Benchmarks fall for a third day as volatility persists;  Asian inks are down 8%
Benchmarks fall for a third day as volatility persists; Asian inks are down 8%
”Domestic indices wavered tracking mixed sentiments from the global markets as investors assessed the possibility of a recession in the US followed by the ...
US capital goods orders do not meet expectations;  remittances increase
Chinese regulator says China, US committed to reaching audit deal
The SEC’s international affairs chief, YJ Fischer, said the agency’s accounting body would need to complete China audit inspections by Nov. 22 to meet a U.S. ...
Keynote at Apple's Worldwide Developers Conference Begins June 6
Keynote at Apple’s Worldwide Developers Conference Begins June 6
WWDC22 launches with a first look at groundbreaking updates coming to Apple platforms later this year. The keynote address will be available via apple.com, ...
US capital goods orders do not meet expectations;  remittances increase
Supply chain challenges can be overcome by finding other markets
“India is almost back to leading normal life and my clear view is that we should not think about any way away from globalisation. There can be some ...
FOREX-Dollar drops to one-month low, kiwi loses post-rate increase gain
FOREX-Dollar drops to one-month low, kiwi loses post-rate increase gain
Asher noted, however, that signs of U.S. economic slowdown — evident most recently in housing and business confidence data released on Tuesday — could force ...
Samsung SDI and Stellantis to Install US$2.5 Billion EV Battery Factory
Samsung SDI and Stellantis to Install US$2.5 Billion EV Battery Factory
Samsung SDI and Stellantis may boost their investment in the project to as much as $3.1 billion, the South Korean company said, reports Yonhap news agency. ...
Show next
We will be happy to hear your thoughts

Leave a reply

Compsmag - Latest News In Tech and Business
Logo