Bussiness
Apple reaches deal with EU regulators to open up mobile payments system to rivals
The European Union flag displayed on a mobile phone screen in front of the Apple logo on July 2, 2024.
Anadolu | Anadolu | Getty Images
LONDON — EU antitrust regulators on Thursday accepted commitments from Apple to allow access to its tap and go payments technology to rivals, bringing an end to a four-year investigation.
“The commission has decided to accept commitments offered by Apple. These commitments address our preliminary concerns that Apple may illegally have restricted competition when it comes to mobile wallets on iPhones,” EU antitrust chief Margrethe Vestager said in a press conference.
The EU formally launched an antitrust investigation relating to Apple Pay in 2020. The probe looked at the terms and conditions Apple sets for integrating Apple Pay in apps and websites as well as concerns around the tap and go technology and alleged refusals of accessing Apple Pay.
In 2022 the European Commission found that Apple Pay could restrict competition as it was the only option for iPhone users. Apple has since suggested several commitments to address the concerns and in January it offered to give its rivals access to its contactless payment and mobile wallet technology.
Vestager said the European Commission market tested Apple’s commitments in January and February to collect feedback on the proposals and make an assessment.
The commission said it has now concluded that Apple’s final commitments address concerns regarding the tech giant’s restrictions of allowing third-parties access to its tap and go payments technology and the changes have been made legally binding on Apple.
Apple did not immediately respond to CNBC’s request for comment.
This breaking news story is being updated.
Exploring Online Casino Gaming: A Guide to the Thrills and Strategies
The latest jobs in search marketing
Deloitte Ports and Freight Yearbook 2024: DAESCHI mid-year update | Infrastructure | Deloitte New Zealand
Dow soars more than 700 points to close at another record high
Albares reiterates Foreign Ministry recommendations to “travel safely” on holidays
Let’s take this offline: why indie fashion boutiques are back in fashion
:max_bytes(150000):strip_icc()/roundup-writereditor-loved-deals-tout-f5de51f85de145b2b1eb99cdb7b6cb84.jpg "I’m a Travel Writer, and Out of the 5 Million Prime Day Deals on Site, These Are the 12 I’m Shopping")
I’m a Travel Writer, and Out of the 5 Million Prime Day Deals on Site, These Are the 12 I’m Shopping
Military Installation Job Fairs: Setting Realistic Expectations for Veterans
Shooting at Baltimore’s Westside Shopping Center leaves man dead, two injured
