Home heardonstreet Watchdogs take a swipe at Apple Pay – #marketnews

Watchdogs take a swipe at Apple Pay – #marketnews

0
Watchdogs take a swipe at Apple Pay – #marketnews

Why Apple do be like anti competition?

“The commission’s findings are only preliminary. But if a full-blown investigation comes to the same conclusion, Apple would be in breach of European competition laws, and exposed—at least in theory—to hefty fines of up to 10% of its worldwide turnover. The firm will have further chances to argue its corner, both in writing and in person, before the commission issues a final decision, a process that could take many months.

Investigations and court cases, of course, are not foregone conclusions. But even if Apple wins some battles, it could still lose the war, for legislative changes are looming too. On March 24th the EU agreed the text of the Digital Markets Act (DMA), a bumper piece of legislation designed to force big tech firms to open their platforms up to competition. One of its themes is to try to forbid companies from giving preferential treatment to their own apps and services. The DMA would require Apple to allow users to install apps from places other than Apple’s own App Store, and force it to allow rivals to provide in-app payment tools of their own. The walls are not looking as solid as they were.”

https://www.economist.com/finance-and-economics/watchdogs-take-a-swipe-at-apple-pay/21809094