Apple (AAPL) Avoids EU Antitrust Threat by Settling Contactless Payments Investigation

Apple Inc. Avoids Threat of Fines European Union regulators by agreeing to make its mobile wallet technology available to other providers free of charge for ten years.

The settlement ends an investigation into the US tech giant’s closely guarded payments technology. The EU has previously warned that restricting access to the technology was an abuse of its market power.