In a closed hearing on February 14, Apple Inc. will attempt to persuade EU antitrust regulators that it does not restrict competitors’ access to its mobile wallet technology. This is Apple Inc.’s final opportunity to do so before facing potentially severe fines.
It has been nine months since the EU competition watchdog accused Apple of abusing its market power, and senior European Commission and national competition authorities, Apple executives, and complainants will all be present at the hearing. According to the EU antitrust police, Apple started engaging in anticompetitive behaviour in 2015, the year Apple Pay was introduced.
The Commission chose not to respond. Apple alluded to its statement from last year, which stated that it had made sure that everyone had access to its tap-and-go technology and that Near-Field Communication was just one of many options accessible to European consumers (NFC).
If found guilty of antitrust crimes, the company might be penalised with fines equal to up to 10% of its annual global revenue. In a lawsuit brought about by a complaint from Spotify, it is also the subject of EU claims of abusing its dominance in the music streaming industry. On that case, the EU has not yet made a decision.
