Print Magazine
Brussels Morning Newspaper
Thursday, May 19, 2022
No Result
View All Result
  • Home
    • About Us
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Europe With Transparency
    • Sustainable Perspective
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
Brussels Morning Newspaper
  • Home
    • About Us
  • EU institutions
    • Commission
    • Parliament
    • Council
  • Europe
  • World
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Europe With Transparency
    • Sustainable Perspective
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
Brussels Morning Newspaper
No Result
View All Result
Home Economy

EC says Apple Pay is anticompetitive

Ivan Fischer by Ivan Fischer
2 May 2022
in Economy
Close-up,View,Of,Man,Using,Apple,Pay,Paying,For,Public

Close-up view of man using Apple Pay paying for public transport

Share on FacebookShare on Twitter

Belgium (Brussels Morning Newspaper) The US tech giant Apple could face a considerable fine and could be forced to open up its mobile payment system to competitors, as the European Commission accused the company of restricting competitors’ access to its mobile wallet technology.

The EC announced on Monday that it had sent a so-called statement of objections to Apple, opening a new anti-competitiveness process against the US company. The formal letter sent to Apple detailed the EC antitrust charges in the case, providing indications that the company had abused its dominant market position to close out competing for mobile wallets out of IOS devices, such as iPhones.

This is currently the second EU antitrust charge against Apple, following last year’s process in which the company was accused of abusing its market position to edge out the competition in the music streaming market. According to the Commission, the latest suspected breach of EU antitrust regulations dates back to 2015, when the company first introduced its Apple Pay mobile wallet service.

The Commission’s antitrust chief Margrethe Vestager said on Monday that the EC has indications that Apple restricted third-party access to key technology necessary for developing competing 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,” said Vestager.

If found to be in breach of EU antitrust rules in this particular case, Apple could face a fine of up to 10% of its global turnover, which amounts to some 36.6 billion dollars based on its 2021 revenue.

The company issued a statement saying it would continue to engage 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. 

Tags: Apple Pay is anticompetitiveBrussels LatestMain-Slider

Latest post

Capaci,,Italy,-3,July,2016,-,The,Memorial,Monument,On

Mafia: from attacks to business

19 hours ago
Athens

What Are 10 Best Budget Hotels In Athens?

20 hours ago

Most Read

  • shutterstock_1821616664

    MEPs send Open Letter urging the Home Secretary Priti Patel to reject Assange’s extradition

    0 shares
    Share 0 Tweet 0
  • These are the 10 highest paying jobs in the Europe in 2022

    0 shares
    Share 0 Tweet 0
  • Why corruption matters

    0 shares
    Share 0 Tweet 0
  • Brussels residents want to set up school for Ukrainian children

    0 shares
    Share 0 Tweet 0
  • Sweden: Taking Syrian children away from parents for protection?

    0 shares
    Share 0 Tweet 0
Facebook Twitter Youtube LinkedIn

About Us

Brussels Morning is a daily online newspaper based in Belgium. BM publishes unique and independent coverage on international and European affairs. With a Europe-wide perspective, BM covers policies and politics of the EU, significant Member State developments, and looks at the international agenda with a European perspective.

Category

  • Ambassador’s Corner
  • Belgium News
  • Brussels
  • Commission
  • Council
  • Culture and Society
  • Diplomacy
  • Economy
  • EU Institutions
  • Europe
  • Europe With Transparency
  • Features
  • In Depth
  • Member States
  • Middle East Eye
  • Opinion
  • Our pick
  • Parliament
  • Place de la Bourse
  • Southeast Europe
  • Sustainable Perspective
  • The American Angle
  • The Macro-Economist
  • Uncategorised
  • US Elections
  • World

More info

  • About Us
  • Advertising
  • Cookies Policy
  • Contact Us
  • FAQ
  • Jobs

Brussels Morning Newspaper - All Rights Reserved © 2020

No Result
View All Result
  • Home
  • About Us
  • EU Institutions
    • Parliament
    • Commission
    • Council
  • Europe
  • World
  • Member States
  • Economy
  • Culture and Society
  • In Depth
    • Ambassador’s Corner
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Sustainable Perspective
    • The American Angle
    • Southeast Europe
  • Print Magazine

Brussels Morning Newspaper - All Rights Reserved © 2020

We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
Cookie settingsACCEPT
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT