As the EU’s antitrust director, Apple ‘took its Apple Pay wallets out of competition,’ contrary to the group’s competition rules. On a smartphone, the Apple Pay icon will appear. On a smartphone, the Apple Pay icon will appear. The European Union (EU) has accused Apple of violating EU competition rules by barring competitors from using the popular “pay-as-you-go” iPhone payment system.
“The preliminary conclusion we reached today is related to mobile payments in stores, by excluding others from profits,” Margrethe Vestager, EU antitrust director, said on Monday. “Apple has protected the security of your Apple Pay wallets from competition. If you testify to this behavior it would be a violation of the highest order, which is illegal under our laws, ”Vestager told reporters. The European Commission, the watchdog of the competition, has strongly criticized the iPhone maker for preventing competitors from trying to enter an unsolicited product “to access a special application and software… to the benefit of its own solution, Apple Pay”.
The accusation is a new salvo against US technology giants by EU regulators, who also target Apple music streaming and e-commerce businesses. The company is also the first venue for the Digital Products Act, a landmark EU law that will prevent Apple and other US technology giants from accessing their services in products and platforms. soak.
The EU regulation of the case comes after the commission launched a study in 2020 which was fueled by complaints from European banks that opposed a payment to Apple in order to reach their customers through applications. The battle comes as technology giants look at personal finances as a new business maker, with Google, Amazon and Facebook owner Meta also looking for ways to replace credit cards or the need for a wallet transfer. Launched in 2014, Apple Pay allows iPhone or Apple Watch users to make payments at retailers by touching their devices to the same terminals currently used for credit and debit cards.
One technology that is one of the concerns in the case of Apple Pay is “near field communication”, or NFC, which allows devices to communicate within a very short distance of their own, usually less than 10cm (four inches) .