EU Commission slams Apple Pay for abusing market power

Published

4 years ago

May 3, 2022

Contactless payments have become the norm, tapping your iPhone to pay for coffee seems like the perfect idea – but the EU commission has major doubts in the tech

The European Commission has accused Apple of abusing its market position for contactless payments on iPhone

It believes the tech giant may have broken competition law by preventing rivals from accessing its “tap and go” technology.

The EU official who is in charge of competition policy says findings show Apple may have restricted competition just to benefit its own apple pay option.

If the charges proceed, Apple could be facing a hefty fine up to 10 per cent of its global turnover

To put that into perspective, the US based tech company made close to 37 billion dollars in revenue last year.

Apple denies the charge and has promised to engage with the Commission.

It says Apple Pay was only one of many options available to European consumers.

Related Topics:APPLE Politics Tech trending

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