Sharing Tech to Avoid Fines?

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In a strategic gambit, Apple opens its tap-and-go payment doors to
rivals, seeking an amicable resolution to EU antitrust woes and sidestepping
potential billion-dollar fines.

According to reporting from AP, Apple, a tech behemoth that typically
plays hard to get, unexpectedly proposed to allow third-party mobile wallet and
payment service providers access to the contactless payment function on its iOS
operating system. This move, presented as an answer to EU antitrust
accusations, is perhaps a temporary truce in an ongoing battle for dominance
when it comes to all sorts of Apple-related payments . As Brussels contemplates
the offer, will Apple’s offering be enough to appease the regulatory gods and
dodge the looming financial guillotine?

Tech Diplomacy: Apple’s Gesture Amid Antitrust Squabbles

In a regulatory poker game, Apple has tossed its tap-and-go cards onto
the table, signaling a willingness to negotiate with EU antitrust enforcers.
The proposition? Opening the once-exclusive access to its contactless payment
function, a move that might spell peace in the tech battleground. As the EU
collects feedback from interested parties, Apple has played a diplomatic card,
attempting to avert the impending financial tempest. Breaches
of EU competition law can result in fines of up to 10% of a company’s annual
global revenue, which in this case, could amount to tens of billions.

A Step Further?

Apple also said that through “ongoing discussions” with the EU, it
would provide developers of payment, banking and digital wallet apps with an
option for their users to “make NFC contactless payments from within their iOS
apps, separate from Apple Pay and Apple Wallet.”

In a strategic gambit, Apple opens its tap-and-go payment doors to
rivals, seeking an amicable resolution to EU antitrust woes and sidestepping
potential billion-dollar fines.

According to reporting from AP, Apple, a tech behemoth that typically
plays hard to get, unexpectedly proposed to allow third-party mobile wallet and
payment service providers access to the contactless payment function on its iOS
operating system. This move, presented as an answer to EU antitrust
accusations, is perhaps a temporary truce in an ongoing battle for dominance
when it comes to all sorts of Apple-related payments . As Brussels contemplates
the offer, will Apple’s offering be enough to appease the regulatory gods and
dodge the looming financial guillotine?

Tech Diplomacy: Apple’s Gesture Amid Antitrust Squabbles

In a regulatory poker game, Apple has tossed its tap-and-go cards onto
the table, signaling a willingness to negotiate with EU antitrust enforcers.
The proposition? Opening the once-exclusive access to its contactless payment
function, a move that might spell peace in the tech battleground. As the EU
collects feedback from interested parties, Apple has played a diplomatic card,
attempting to avert the impending financial tempest. Breaches
of EU competition law can result in fines of up to 10% of a company’s annual
global revenue, which in this case, could amount to tens of billions.

A Step Further?

Apple also said that through “ongoing discussions” with the EU, it
would provide developers of payment, banking and digital wallet apps with an
option for their users to “make NFC contactless payments from within their iOS
apps, separate from Apple Pay and Apple Wallet.”



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