Competition will now be able to utilize Apple’s tap-and-go mobile payment system, according to EU antitrust regulator Margrethe Vestager.
According to EU antitrust regulator Margrethe Vestager, Apple (AAPL.O) has opened up a new tab that will allow competitors to use its tap-and-go mobile payment system. However, the iPhone maker has not yet altered its business methods to conform with historic IT regulations. According to the Digital Markets Act (DMA), which mandates that Big Tech provide competitors with an even playing field and increase customer choice, the business is the subject of three investigations.
Vestager launched an investigation into new contract terms for app developers and competing app shops after claiming last month that its App Store policies violated the DMA. Since then, she claimed to have observed no action taken by Apple to abide by the DMA. Vestager said at a conference, “As of right now, we have not observed a change in behavior on Apple’s side when it comes to our preliminary findings.” “I would have hoped so because I think it will be beneficial for consumers and customers and, of course, respectful to the legislator to discuss in depth what would be expected from gatekeepers,” she stated.
Vestager also said earlier on Thursday that she had agreed to terminate a four-year inquiry that may have resulted in a large fine by accepting Apple’s offer to allow competitors to use its tap-and-go mobile payments system.
According to the European Commission, which oversees EU antitrust enforcement, Apple’s offer is good for ten years. Apple Pay is available from more than 3,000 banks and issuers throughout Europe. “From now on, Apple can no longer use its control over the iPhone ecosystem to keep other mobile wallets out of the market,” Vestager stated.
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