4/28/2022, 1:47 PM (Source: TeleTrader)
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EU to accuse Apple of blocking financial groups - report

Apple will face new antitrust charges in Brussels next week because of how it prevents competitors from accessing its mobile payment system, Financial Times announced on Thursday, citing sources familiar with the matter.

According to the report, Apple would receive penalties valued at up to 10% of worldwide revenue if the charges were upheld. Brussels will charge the company with unfairly blocking access to its mobile wallet system to groups such as PayPal and major banks.

In the past, Apple CEO Tim Cook had already warned that US and European antitrust regulations could harm the privacy and security of iPhone users. Meanwhile, regulatory projects in Europe and the US aim to prevent large technology companies, including Apple, from using their market dominance to force users to use their apps and products over those of their rivals.

Baha Breaking News (BBN) / JG