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EU Commission slams Apple Pay for abusing market power

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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.

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Money

Six strategies to build a six-figure property portfolio

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Achieve your dream retirement with these key property investment approaches

Investment Insights is an informative and inspiring interview-style show that dives into the world of money management and wealth creation, making complex financial concepts accessible to all.

Hosted by the Founder of The Investor’s WayAndrew Woodward.

In this episode, Andrew is joined by Moxin Reza, Director of Invest0r Partner Group.

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Money

Experts reveal how to spot investment-grade properties

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Crucial tips for choosing the right property to secure long-term financial success

Investment Insights is an informative and inspiring interview-style show that dives into the world of money management and wealth creation, making complex financial concepts accessible to all.

Hosted by the Founder of The Investor’s WayAndrew Woodward.

In this episode, Andrew is joined by Moxin Reza, Director of Investor Partner Group.

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Money

Tricks of the trade: how to navigate market volatility with confidence

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Strategies to manage risk and seize opportunities in uncertain times

Investment Insights is an informative and inspiring interview-style show that dives into the world of money management and wealth creation, making complex financial concepts accessible to all.

Hosted by the Founder of The Investor’s WayAndrew Woodward.

Continue Reading

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