Apple’s offer to open its tap-and-go mobile payments system to rivals is set to be approved by EU antitrust regulators as soon as next month after it tweaked some of the terms, people familiar with the matter said, according to Reuters.
Apple’s bid to settle the four-year investigation would help it dodge a finding of wrongdoing and stave off a potential hefty fine that could be as much as 10% of its global annual turnover.
The European Commission two years ago accused Apple of thwarting competition for its Apple Pay mobile wallet by preventing rival mobile wallets app developers from accessing its tap-and-go technology.
The U.S. tech giant in January offered to let rivals access its NFC on its iPhones, iPads and other Apple mobile devices free of charge without having to use Apple Pay or Apple Wallet, with access based on fair and non-discriminatory criteria.
It also offered to provide additional functionalities including defaulting of preferred payment apps, access to authentication features such as FaceID and a suppression mechanism, and also to set up a dispute settlement mechanism.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
