EU says Apple Pay restrictions may harm competitors

Key Facts

• The European Commission said Monday that it believes Apple (AAPL) has unfairly blocked competitors from using the wireless communications technology behind Apple (AAPL) Pay’s tap-to-pay capabilities.
• According to a statement of objections the European Commission sent to Apple, the company has restricted access to its devices’ near-field communications (NFC) equipment, and only Apple Pay may use it.
• That means rivals that want to create apps or wallets utilizing the tap-to-pay features on iPhones can’t do so, a rule by Apple that’s harmed innovation, the Commission’s executive vice president, Margrethe Vestager, said.
• “We will continue to engage with the Commission to ensure European consumers have access to the payment option of their choice in a safe and secure environment,” Apple said in a statement.

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