On the 2nd local time, the EU antitrust regulator formally accused Apple of the United States of restricting competitors from using its mobile payment technology, so Apple may face huge fines.
The European Commission said on the 2nd that it has issued a written statement to Apple detailing how Apple abused its dominance in the field of mobile payment through Apple Pay. In recent years, Apple has restricted users from using other payment systems on Apple devices on the grounds of protecting user security and privacy, and said Apple's anti-competitive behavior dates back to at least 2015, the statement said. The European Commission says there are signs that Apple has set up barriers that restrict third-party app developers from getting the key technology they need, namely NFC contactless payment technology when users use Apple Pay through Apple devices.
According to Reuters, if the allegation is established, Apple will face a hefty fine of up to 10% of its global annual turnover, estimated at about $36.6 billion (about 241.864 billion yuan) according to the turnover data of the previous fiscal year. However, the Reuters report also pointed out that the relevant penalties in the EU have rarely been implemented according to the upper limit penalty standard before. Apple said it would continue to engage with the European Commission on the issue.
The European Parliament, the European Council and the European Commission agreed on the Digital Marketplace Act in March this year, which aims to restrict technology giants such as Google, Apple, Amazon, and Facebook. If a business violates the Digital Market Act, it will face fines of up to 10% of its global annual turnover in the previous financial year, as well as a fine of up to 20% for repeat offenders.
Source: CCTV Finance