ANL 13.14 Decreased By ▼ -0.05 (-0.38%)
ASC 12.30 Increased By ▲ 0.13 (1.07%)
ASL 13.44 Decreased By ▼ -0.06 (-0.44%)
BOP 8.41 Increased By ▲ 0.10 (1.2%)
BYCO 6.00 Increased By ▲ 0.25 (4.35%)
FCCL 17.85 Increased By ▲ 0.79 (4.63%)
FFBL 24.11 Increased By ▲ 0.50 (2.12%)
FFL 10.15 Increased By ▲ 0.10 (1%)
FNEL 9.52 Increased By ▲ 0.21 (2.26%)
GGGL 14.10 Increased By ▲ 0.30 (2.17%)
GGL 26.16 Decreased By ▼ -0.59 (-2.21%)
HUMNL 5.74 Increased By ▲ 0.08 (1.41%)
JSCL 15.00 Increased By ▲ 0.45 (3.09%)
KAPCO 31.25 Increased By ▲ 0.55 (1.79%)
KEL 3.37 Increased By ▲ 0.21 (6.65%)
MDTL 2.10 Increased By ▲ 0.01 (0.48%)
MLCF 33.60 Increased By ▲ 1.70 (5.33%)
NETSOL 90.95 Increased By ▲ 1.95 (2.19%)
PACE 4.15 Increased By ▲ 0.06 (1.47%)
PAEL 20.70 Increased By ▲ 0.28 (1.37%)
PIBTL 7.40 Increased By ▲ 0.13 (1.79%)
POWER 6.44 Increased By ▲ 0.13 (2.06%)
PRL 12.16 Increased By ▲ 0.36 (3.05%)
PTC 8.68 Decreased By ▼ -0.01 (-0.12%)
SILK 1.19 No Change ▼ 0.00 (0%)
SNGP 37.80 Increased By ▲ 0.70 (1.89%)
TELE 14.35 Decreased By ▼ -0.12 (-0.83%)
TRG 87.18 Increased By ▲ 7.99 (10.09%)
UNITY 21.96 Increased By ▲ 0.11 (0.5%)
WTL 2.03 Increased By ▲ 0.03 (1.5%)
BR100 4,473 Increased By ▲ 75 (1.71%)
BR30 17,594 Increased By ▲ 602.1 (3.54%)
KSE100 43,853 Increased By ▲ 572.7 (1.32%)
KSE30 17,006 Increased By ▲ 228.3 (1.36%)

Coronavirus
LOW
Source: covid.gov.pk
Pakistan Deaths
28,793
924hr
Pakistan Cases
1,287,703
31024hr
Sindh
477,119
Punjab
443,610
Balochistan
33,514
Islamabad
107,989
KPK
180,471
World

Apple to face EU antitrust charge over NFC chip

  • The European Commission has since narrowed its focus to just the NFC chip, which can only be accessed by Apple Pay
06 Oct 2021

BRUSSELS: Apple will be hit with an EU antitrust charge over its NFC chip technology, people familiar with the matter said, a move that puts it at risk of a possible hefty fine and could force it to open its mobile payment system to rivals.

The iPhone maker has been in European Union antitrust chief Margrethe Vestager's crosshairs since June last year when she launched an investigation into Apple Pay.

Preliminary concerns were Apple's NFC chip which enables tap-and-go payments on iPhones, its terms and conditions on how mobile payment service Apple Pay should be used in merchants' apps and websites, and the company's refusal to allow rivals access to the payment system.

The European Commission has since narrowed its focus to just the NFC chip, which can only be accessed by Apple Pay, one of the sources said.

Facebook outage shows need for more players, EU's Vestager says

The EU competition enforcer is now preparing a charge sheet known as a statement of objections, which could be sent to Apple next year, one of the sources said. Such documents typically set out practices considered anti-competitive by the regulator.

The Commission, which has three other cases against Apple, declined to comment. It can fine companies up to 10% of their global turnover for violating EU rules, which based on Apple's 2020 revenue could come to $27.4 billion.

Apple, which has cited privacy and safety issues for its policy on Apple Pay, was not immediately available for comment.

EU to impose universal phone charger, in blow to Apple

Apple's shares were down 1% at $139.6 in early trade

NFC-enabled payments have grown in popularity due in part to the COVID-19 pandemic. Apple Pay's wide reach and superior consumer experience on a mobile website or in-store give it a competitive edge over rivals, according to some analysts.

Apple Pay is also on the radar of other regulators and authorities. South Korea approved a bill last month that bans major app store operators, including Apple, from forcing software developers to use their payment systems.

Germany in 2019 passed a law requiring Apple to open its mobile payments system to rivals for a reasonable fee.

In the same year the Dutch competition watchdog kicked off an investigation into the App Store and the requirement that app developers use its payment systems for in-app purchases and pay a 30% fee in the first year.

We love hearing your feedback, please help us improve by answering these few survey questions

Comments

Comments are closed.