European Union regulators have accused Apple of breaking the law by stifling competition in markets for mobile wallets, a move that could lead to billions of dollars in fines.
The European Commission (EC) said in a May 2 statement that it had sent a charge sheet known as a statement of objections to Apple, alleging that the tech giant abused its dominant position in markets for mobile wallets on iOS devices, restricting rivals’ access to the detriment of consumer choice.
“We have indications that Apple restricted third-party access to key technology necessary to develop rival mobile wallet solutions on Apple’s devices,” said EU competition commissioner Margrethe Vestager, adding that a preliminary finding has determined that Apple may have restricted competition to the benefit of Apple Pay, the company’s own mobile wallet solution.
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