Apple CEO Tim Cook speaks at the “Senior China Leadership Conference” held by the National Committee on U.S.-China Relations and the U.S.-China Business Council on the sidelines of Asia-Pacific Economic Cooperation (APEC) Leaders Week in San Francisco, California. Attended the “Partner Event” on November 15, 2023.
Carlos Barria | AFP | Getty Images
apple have offered The company is trying to appease European antitrust regulators by giving rivals access to and interoperability with its contactless payment technology.
Apple Pay, the company’s mobile wallet feature, allows users to make purchases with a tap on their iPhone, which runs on Apple’s operating system called iOS. Because Apple has exclusive control over this operating system, third-party mobile wallet developers’ access to the company’s payment technology was previously limited.
In 2022, This was announced by the European Commission, the EU’s executive agency. Since Apple Pay is the only option available to iPhone users, “such exclusionary practices could limit competition in the mobile wallet market on iOS devices.” As a result, Apple proposed a series of commitments to address the committee’s concerns.
Apple says it will allow third-party developers to access mobile payments technology, provide users with new features such as default settings for preferred payment apps, and apply “non-discriminatory eligibility criteria” to rival developers. Stated.
“Through ongoing discussions with the European Commission, we are offering third-party developers in the European Economic Area the option to allow users to make NFC contactless payments from within their iOS apps, independent of Apple Pay and Apple. Wallet,” an Apple spokesperson told CNBC in a statement.
Committee said on friday The changes are expected to remain in place for 10 years. Apple is seeking feedback on its proposed solution.
If Apple’s commitment alleviates European regulators’ competition concerns, the European Commission will adopt it and legally require Apple to implement the changes. If businesses fail to comply, they can be fined up to 10% of their gross revenue.
Bloomberg reports that the Department of Justice is reportedly stepping up its case against Apple, which also faces pressure from US antitrust regulators. The Justice Department’s lawsuit reportedly centers on software and hardware restrictions on iPads and iPhones that limit competition.
According to reports, the Department of Justice may file a lawsuit against Apple within the first quarter.
Apple shares closed up more than 1% on Friday.
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