Big Tech
Apple Avoids EU Antitrust Threat With Tap-and-Pay Probe Settlement
- EU accepts Apple pledge to open up payment tech to rivals
- Firm still faces mounting EU antitrust scrutiny in other areas
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Apple Inc. has avoided the threat of fines from European Union regulators by agreeing to open up its mobile wallet technology to other providers free of charge for a decade.
The settlement brings to an end an investigation into the US tech giant’s closely guarded payments technology. The EU earlier warned that restricting access to the technology amounted to an abuse of its market power.