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Apple hit with EU antitrust charge over its payment technology


Keys and wallet

Source: Apple

EU antitrust regulators are charged AppleThe iPhone maker has been accused of restricting the access of its NFC chip technology to rivals. It could land it in serious trouble and lead to an imposing fine.

The European Commission stated that it had submitted a “statement of objections” to Apple. This charged sheet detailed the abuses by Apple in its market dominance for mobile wallets.

Margrethe Vestager from the EU antitrust office stated that “there are indications Apple has restricted third-party technology access necessary for developing rival mobile wallet solution on Apple’s device.”

“In our preliminary objections, it was found that Apple could have restrained competition, in favor of Apple Pay,” she stated.

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

Apple Pay is just one of the many payment options that European customers have, it has provided equal access and established industry-leading privacy and security standards.

A statement of objections, also known as a chargesheet by the Commission to Apple was sent last October.