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The European Commission currently accuses Apple of abusing its market position regarding contactless smartphone payments. In a preliminary finding, it states that the US company is potentially violating competition law by blocking rivals from accessing its "tap and go" technology. Apple denies the accusation and commits to cooperating with the Commission. If found guilty, Apple could face fines up to 10% of its $36.6bn (£29.2bn) global turnover based on last year's revenue. EU Vice-President Margrethe Vestager affirms that Apple may have restricted competition, favoring its own Apple Pay solution.
Monday, 2 May, 2022