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Apple Settles EU Case By Opening Its iPhone Payment System To Rivals

The European Commission has approved Apple's commitments to open its "tap to pay" iPhone payment system to rivals, avoiding a potentially hefty fine. The Guardian reports: Regulators had accused Apple in 2022 of abusing its dominant position by limiting access to its mobile payment technology. App...

The European Commission has approved Apple's commitments to open its "tap to pay" iPhone payment system to rivals, avoiding a potentially hefty fine. "Today's commitments end our Apple Pay investigation," Margrethe Vestager, the commission's executive vice-president for competition policy, told a press briefing in Brussels. Breaches of EU competition law can draw fines 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.

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