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EU Antitrust Regulators Investigate Apple’s Mobile Payment System

 |  May 1, 2024

The European Commission has intensified its scrutiny of the company’s mobile payment system. EU antitrust regulators are now seeking further information on Apple’s practices, indicating a concerted effort to close any potential loopholes, as reported by Reuters.

The Commission’s move comes in the wake of accusations leveled last year, alleging that Apple has been unfairly limiting competitors’ access to its tap-and-go technology, Near-Field Communication (NFC), crucial for mobile wallet services. By allegedly impeding rivals’ development of similar services on Apple devices, the company has faced mounting criticism and regulatory pressure.

Related: Apple Denies EU Competition Law Violation Ahead of Fine Decision

While the specifics of the information requests remain undisclosed, a spokesperson for the commission confirmed their issuance, refraining from elaborating further. Apple, in response, has cited examples of successful alternative services, such as PayPal on its iOS platform, along with competitors like Denmark’s MobilePay, Sweden’s Swish, and Belgium’s Payconiq.

However, dissenting voices, including Norwegian mobile payment app Vipps, argue that these alternatives lack competitiveness and are burdened by cumbersome processes compared to NFC technology.

The timing of the Commission’s latest action is notable, arriving three months subsequent to Apple’s defense presented during a February 14 hearing. Typically, regulatory decisions happen immediately after hearings, making the request for additional information to rivals and retailers an atypical move.

Source: CA Movies Yahoo