European Commission Accused Apple For Breaking Competition Law Over Contactless Payments

The European Commission has accused Apple for abusing the market position of the company for the contactless smartphone payments. In a preliminary finding, the European Commission said that, the company based in the United States might have broken the competition law by the prevention of the rivals from accessing the company’s tap and go technology.

The company ‘Apple’ has denied the charge and has now also promised for engaging with the European Commission and if the charges are upholding, it can also be fined up to around 10 percent of the company’s global turnover of 36.6 billion dollars based on the revenue of the company in 2021.

Margrethe Vestager, ex-vice president of the European Union said, they are now having the indications that, Apple has restricted the third-party access to the main technology, which is necessary for the purpose of developing the rival mobile walled solutions on the devices of Apple.

The official of the European Union, who has been in charge of the competition policy said that, they have primarily found that, Apple might have been restricting the competition for the purpose of benefiting of its own solution known as Apple Pay.

According to the European Commission, this behaviour from Apple is having an exclusionary effect on the competitors and it is also leading to the less innovation and low choice for the consumers for the mobile wallets on the iPhones. In response, the company said, its payment system had only been one of the many options that are available to the European consumers.