TECH - Apple To Open Its Tap-And-Go Payment System To Rivals Settles EU Antitrust Probe | Benzinga
Apple Inc. (NASDAQ:AAPL) has agreed to allow its competitors to use its tap-and-go mobile payments system. This decision comes as a resolution to a long-standing antitrust investigation by the European Union.
What Happened: The EU’s antitrust regulators announced on Thursday that Apple will open up its tap-and-go mobile payments system to its competitors. This move effectively ends a four-year investigation that could have resulted in a substantial fine for the tech giant, reported Reuters.
The decision marks a significant shift for Apple, which has been under scrutiny by the EU for its business practices. The company is currently facing three investigations under the Digital Markets Act (DMA).
The European Commission, which acts as the EU’s antitrust enforcer, stated that Apple’s offer will be valid for 10 years. This ...