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Apple hit with EU antitrust charge over its payment technology -Breaking


© Reuters. FILEPHOTO: A logo for Apple hangs over the entrance of the Apple store at 5th Avenue in Manhattan, New York City. This was July 21st 2015. REUTERS/Mike Segar//File Photo

By Foo Yun Chee

BRUSSELS (Reuters), – Apple (NASDAQ 🙂 was accused Monday of restricting the access of its NFC chip technology to rivals. The move could land Apple a large fine and require it to allow its competitors to use its mobile payment system.

The European Commission stated that it sent Apple an Apple statement of objections, also known as a chargesheet. This document detailed the abuses by Apple in its market dominance for mobile wallets.

Margrethe Vestager from the EU antitrust office stated that “We have evidences that Apple limited third-party access key technology necessary for developing rival mobile wallet solution on Apple’s device.”

She stated that she had preliminarily concluded that Apple might have limited competition to its benefit through Apple Pay in her statement of objections.

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Apple stated that it will continue its engagement with the Commission.

“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.

In October 2013, Reuters reported that the Commission sent a bill sheet, known as a statement to objections, to Apple.