Apple Pay facing review by EU Regulator

Apple Pay facing review by EU Regulator


On Monday EU regulators had said that they could review the Apple’s mobile payment service in case of any complaint lodged. The stance came after the EU’s looking into the service and finding of Apple not being totally controlling over the market as dominating player.

She will also be continue observing the Amazon and Google until the end of her tenure ending late in next year, said European Competition Commissioner Margrethe Vestager in an interview to Reuters on Monday.
In last 18 months, a fine of $6.8 billion has been charged to the Google for not being compliant with EU rules.

Launched in October 2014, Apple has been offering its mobile payment service in 10 of the EU countries including Italy, Denmark, Sweden, Spain and France.

Apple’s faced criticism for NFC chip embedded in its iPhone, barring rival payment methods by selecting Apple Pay automatically while user intend to make any payment through it for which an investigation is in process by Danish Competition Authority for matter highlighted by Danish Consumer Council.

Previously some preliminary reviews of payment services providers was carried out by European Competition Commissioner Margrethe Vestager who is also well-known for her reputation for remaining tough against the companies breaching EU rules and authority to fine breaching companies for up to 10 percent of their global turnover.

Not connected to the Apple’s case, in another review, Vestegar is also active in gathering data to prepare a case against the U.S. based online giant Amazon, finding the possible illegal usage of merchant data to develop its own brand products akin to retailers.

Raising the possibility of fourth antitrust case against the Google, Vestager, asked its local rivals to point out if the Google search engine has been playing unfairly by demoting local search engines in its search results.

Previous articleWall Street in Green, Thanks To Trump
Next articleTop Moving Stocks On The News
I am a lecturer at the University of Economics in Bratislava, department of Banking and International Finance. I have a Ph.D. academic degree, my dissertation was focused on major markets. Commodities and stock markets are also the main focus of my research and publication activities. I have approximately 10 years of investing experiences. My investments mostly focus on small- to mid-cap companies of energy sector, financial and technology.