Understanding Apple pay EU hearing and why it matters for mobile payments

Delhi : 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 officials, Apple executives, and complainants will all be present at the hearing.

According to the EU antitrust watchdog, Apple started engaging in anticompetitive behaviour in 2015, the year Apple Pay was introduced.

The Commission chose not to respond. Apple referred 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 available to European consumers (NFC).

If found guilty of antitrust violations, the company could be penalised with fines equal to up to 10% of its annual global revenue. In a case brought about by a complaint from Spotify, it is also the subject of EU charges of abusing its dominance in the music streaming market. On that case, the EU has not yet made a decision.