EU slaps Apple with antitrust charge over Apple Pay technology
Shannon Longworth: Apple is in hot water again over claims that it’s created an uneven playing field with its competitors.
This time, it has to do with the company’s mobile wallet…Apple Pay.
This morning, the European Commission charged Apple with restricting third-party access to the tech needed to develop rival apps.
With the charge comes the possibility of hefty fines…
And, Apple may even have to open its Apple Pay technology to competitors.
Margrethe Vestager | European Commission Vice President: “Developing a mobile payment application is costly. Investments may only be worth it if developers can reach both Apple and Android consumers. Evidence on offer indicates that some developers, they did not go ahead with their plans as they were not able to reach iPhone users.”
Shannon Longworth: This is certainly not Apple’s first EU charge.
Last year, regulators accused Apple of distorting competition in the music streaming market following a complaint from Spotify.