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Apple breathes a sigh of relief as the EU closes its antitrust case, which could have cost the iPhone maker tens of billions of dollars
Apple will allow rivals to access the iPhone's "tap to pay" system, which was a sticking point with regulators.
LONDON — The European Union on Thursday accepted Apple’s pledge to open its “tap to pay” iPhone payment system to rivals as a way to resolve an antitrust case and head off a potentially hefty fine. The European Commission, the EU’s executive arm and top antitrust enforcer, said it’s approved the commitments that Apple offered earlier this year and will make them legally binding. Breaches of EU competition law can draw worth up to 10% of a company’s annual global revenue, which in Apple’s case, could have amounted to tens of billions of euros (dollars).
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