EU Commission slams Apple Pay for abusing market power

Published

2 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

Up Next

Amazon to pay U.S staff travel for medical treatments including abortion

Don't Miss

Spanish Government confirm PM’s phone was hacked

Brittany Coles

Why the meme-stock frenzy is unlikely to repeat

Published

5 days ago

May 14, 2024

Nathan Langridge

GME shares surge 74%, but experts stress a meme-stock frenzy resurgence is unlikely due to fundamental differences in the company’s financial situation.

Australia’s budget unveils a second consecutive surplus of A$9.3 billion, prioritising the critical minerals industry and green energy initiatives to reduce reliance on Chinese supply.

Also, GameStop shares have surged 74%, but experts caution against expecting a repeat of the 2021 meme-stock frenzy. #featured #trending

Money

Why are airlines after the Biden Administration?

Published

5 days ago

May 14, 2024

Nathan Langridge

Major airlines are taking legal action against the Biden administration over a newly implemented rule requiring them to disclose fees upfront.

On this episode of Hot Shots – Major airlines are suing the Biden Administration, AI-piloted fighter jets, SpaceX faces funding challenges, and Apple receives crushing feedback.

Ticker’s Ahron Young & Veronica Dudo discuss. #featured #trending

Money

The mounting pressure on Government spends

Published

6 days ago

May 13, 2024

ticker NEWS

Questions abound regarding the factors fueling this inflation surge in Australia and whether it correlates with the escalating government expenditures.

Concerns extend to how Chalmers navigates the mounting pressure amid discrepancies in spending allocations.

Moreover, as Australians grapple with the reality of rising living costs, the feasibility of cutting spending becomes a pressing issue. Additionally, amidst economic uncertainties, individuals seek guidance on managing stock market risks effectively. #Featured #Trending