EU accepts Apple's commitments to open contactless payment technology
BRUSSELS -- The European Commission announced on Thursday that it has accepted Apple's legally binding commitment to allow third-party access to its contactless payment technology, a move aimed at boosting competition in the mobile payment sector. The decision follows a formal antitrust investigation initiated in June 2020, which concluded in 2022 with a preliminary finding that Apple had abused its dominant market position by restricting third-party access to Near-Field Communication, or "tap-and-go", technology on iOS devices. In response, Apple proposed in January 2024 to provide third-party wallet providers free access to the NFC functionality on their devices without requiring them to use Apple Pay or Apple Wallet. Complying with these commitments will save Apple from potential fines, as breaches of EU competition law can result in penalties of up to 10 percent of a company's annual global revenue.
Apple's App Store and Apple Pay are being investigated by EU antitrust regulators
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