The flag of the European Union is displayed on a mobile phone screen in front of the Apple logo on July 2, 2024.
Anatolia Anatolia Getty Images
LONDON – The EU antitrust regulator on Thursday received a commitment from Apple to allow access to tap payment technology and move to a competitor, ending a four-year investigation.
“The Commission has decided to accept the commitment offered by Apple. The commitment overcomes our initial concerns that Apple may be illegally restricting competition when it comes to mobile wallets on iPhones,” EU antitrust chief Margrethe Vestager said at a press conference.
The European Union officially launched an antitrust investigation related to Apple Pay in 2020. The investigation investigated the terms and conditions established by Apple to integrate Apple Pay in applications and websites as well as concerns about tap and go technology and the alleged refusal to access Apple Pay.
In 2022, the European Commission found that Apple Pay could limit competition because it was the only option for iPhone users. Apple has since proposed some commitments to address the issue and in January offered to give competitors access to contactless payment technology and mobile wallets.
Vestager said the European Commission market tested Apple’s commitment in January and February to gather feedback on the proposal and make an assessment.
The commission said it has now concluded that Apple’s final commitment addresses concerns about the tech giant’s ban on allowing third-party access to its tap-and-go payment technology and that the changes have been legally implemented at Apple.
Apple did not immediately respond to CNBC’s request for comment.
This news item is being updated.