Apple avoids EU antitrust fine

ARTICLE: Apple likely avoids potential hefty EU fine

The American tech giant has announced it will make its tap-and-go mobile payment system available to rivals.

At least that is what follows from a statement published on Thursday (July 11) by EU anti-corrosion regulators.

The decision ends a four-year investigation into the iPhone maker.

The European competition authority accused Apple two years ago of hindering competition in its Apple Pay mobile wallet.

The company has been accused of blocking rival app makers from using its tap-and-go technology.

The European Commission said Apple’s new offer would be valid for 10 years.

EU antitrust chief Margrethe Vestager said rivals would now be able to effectively compete with Apple Pay for mobile payments using iPhones in stores.

Apple’s contactless technology, called near-field communication (NFC), enables contactless payments using mobile wallets.

Now developers will be able to access NFC to pre-build payment apps for competing mobile wallet providers.

Apple said its offering will allow European developers to enable tap-and-go payments for many features of their iOS apps.

Includes car keys, house keys, company IDs and more.

Apple Pay is offered by over 3,000 banks and issuers in Europe.