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Apple Is Sued By The Eu For And Antitrust Charge For Payment Technology: Latest Updates!!!

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Apple Updates: Apple was charged with restricting rivals’ access to its NFC chip technology by EU antitrust regulators on Monday, a move that could result in a heavy fine for the iPhone manufacturer and force it to open up its mobile payment system to competitors.
• The European Commission announced that it had given Apple a charge sheet, also known as a statement of objections, outlining how the corporation had exploited its dominant position in the market for mobile wallets on iOS devices.
• Apple stated that it would keep working with the Commission.
Apple was charged with restricting rivals’ access to its NFC chip technology by EU antitrust regulators on Monday, a move that could result in a heavy fine for the iPhone manufacturer and force it to open up its mobile payment system to competitors. Appl’e was punished on Monday by European Union antitrust officials with limiting access to the NFC chip technology it uses for mobile payments on iOS devices.

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THE REGULATORS CLAIM THAT THIS UNJUSTLY ADVANTAGES APPLE PAY, THE COMPANY’S OWN PAYMENT PLATFORM.

According to The Wall Street Journal, if Apple is found guilty of abusing its power, it might face a fine equal to the amount it charges for utilising its mobile wallet services. The European Commission announced that it had given Appl’e a charge sheet, also known as a statement of objections, outlining how the corporation had exploited its dominant position in the market for mobile wallets on iOS devices.

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In a statement, EU antitrust chief Margrethe Vestager stated, “We have indications that Appl’e limited third-party access to essential technology necessary to develop competitor mobile wallet solutions on Apple’s devices.”

“WE PRELIMINARILY FOUND IN OUR STATEMENT OF OBJECTIONS THAT APPLE MAY HAVE HINDERED COMPETITION TO THE BENEFIT OF ITS OWN SOLUTION, APPLE PAY,” SHE SAID.

Apple stated that it would keep working with the Commission. “Apple Pay is just one of many payment options available to European consumers,” the company said in a statement. “Appl’e Pay has ensured equal access to NFC while setting industry-leading standards for privacy and security.”
The Commission’s decision to send Apple a charge sheet, also known as a statement of objections, backed up a Reuters report from October of last year.

Sambhrama S
Sambhrama Shttps://premierenext.com/
My name is Sambhrama S, from Shimoga, Karnataka. I'm studying in MSC Biochemistry at Mysore University Mysore. I am interested in reading books, listening music, painting. I am also passionate to write good content on various day to day issues.
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