Apple faces penalties for restricting NFC payments from third parties
The European Union’s (EU) antitrust agency recently announced that it had found Apple in violation in blocking third-party service providers from accessing NFC on Apple’s mobile wallet system. Pay. An investigation conducted since 2020 shows that Apple blocks developers of mobile wallet applications such as PayPal, Venmo … from accessing the necessary hardware and software on its devices.
The move by the EU’s antitrust body will not only force the iPhone maker to open its mobile payment system to competitors, but it could also cost them a fine of up to 10 per cent of global revenue if caught. concluded to be guilty.
According to Reuters, by the end of March 2022, Apple had to pay more than 45 million euros in fines related to monopolistic practices.
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