Tech

EU accuses Apple of breaking competition law over contactless payments

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Posted: 03/05/22 - 05:34
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The European Commission has accused Apple of abusing its market position for contactless smartphone payments.

In a preliminary finding, it said the US company may have broken competition law by preventing rivals from accessing its "tap and go" technology.

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

If the charges are upheld, it could be fined up to 10% of its global turnover of $36.6bn (£29.2bn) based on its revenue last year.

"We have indications that Apple restricted third-party access to key technology necessary to develop rival mobile wallet solutions on Apple's devices," EU Vice-President Margrethe Vestager said in a statement.

"We preliminarily found that Apple may have restricted competition, to the benefit of its own solution Apple Pay," the EU official who is in charge of competition policy said.

I Call Bull: Maybe i'm missing the point here but if Apple developed Apple pay tap and go by themselves for their own customers why should they share the tech?
I'm calling bull on this cash grab by the EU unless someone on LCB can explain why not, i dunno maybe i'm missing the point here somehow?

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3 Comments
24 days
1 upvotes
Once in a position of dominance they were unstoppable but it is a bit late to complain about it now
24 days
1 upvotes
No way they are going to have to pay 10% of their global turnover over this
24 days
2 upvotes
This does seem a bit odd, but should we really expect anything else from the EU?