Apple slams EU antitrust charge over its payment technology

Apple slams EU antitrust charge over its payment technology

“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.

EU antitrust controllers charged Apple on Monday with restricting rivals’ admittance to its NFC chip technology in a move that could result in a hefty fine for the iPhone creator and power it to open its mobile payment framework to contenders. The European Commission said it had sent a charge sheet known as a proclamation of objections with Apple, detailing how the organization had abused its dominant situation in business sectors for mobile wallets on iOS devices. Apple said it would keep to engage with the Commission.

“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.

“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,” the company said in a statement.

The Commission’s decision to send a charge sheet known as a statement of objections to Apple confirmed a Reuters story in October last year.

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